a dead cell is a good indication that the plates have corroded so far, that its gone, you possibly have a shorting occuring in there.
Like is said above, the short can be removed, but i dont see much hope for the battery as a whole.
but with batteries like you guys are using, your sure to get something out of it.
analize its age, the number of deep discharges it has accomplished, and from that info determine if its worth the effort. as soon as you toss it, it will be worth the effort to someone (for a while) :-)