R761, operated by Steamrail Victoria, and R707, operated by 707 Operations Incorporated, are both operational.
Since restoration in the mid-1980s, both locomotives have hauled many special passenger trains for enthusiasts to various destinations on Victoria's remaining 5 ft 3 in (1,600 mm) network.
Prior to the privatisation of V/Line in the 1990s, it was not uncommon to see R 707, 761 or 766 hauling normal revenue-earning V/Line passenger trains as a crew training exercise.
R 707 has been named "City of Melbourne" in preservation.

After a lengthy absence, R711 is now operational and accredited to operate on the mainline.
Now wearing a special Victorian Railways royal blue and gold livery reminiscent of the Spirit of Progress days.
R711 returned to the mainline in the later half of 2011 conducting mainline trials.
Whilst remaining oil fired, the engine has reverted to a single blast pipe set up as standard on the R class fleet as well as reverting to standard screw reverser.
R711 is owned by the City of Bendigo.
On 22 July 2012, R711 operated its first mainline tour open to the public, double heading with R761 to Traralgon as trailing engine, as part of the annual Snow Train.

R 700 is stored pending restoration.
R 700 was stored in a dismantled state at Ballarat East until early 2011 when it was lifted back onto its wheels.
In May 2012 the loco was transferred to Newport Workshops during an empty cars move, hauled by K190.

R 766 has passed through a number of operators and owners in preservation.
It was acquired by a company trading as "Australian Vintage Travel" in 1981 and restored to operating condition for hauling luxury rail services.
It was painted in a Brunswick green livery, matching the ex-South Australian Railways carriages also restored for these services.
After Australian Vintage Travel folded in 1986, R 766 was acquired by a syndicate of shareholders ("766 Syndicate") and leased to Steamrail Victoria.
In 1994, Steamrail volunteers re-painted R 766 in a maroon livery based on that of the London Midland and Scottish Railway, before the locomotive was leased to West Coast Railway (and repainted in the WCR corporate livery) in 2000.

Like several other classes, the R-class was designed for ease of conversion to 4 ft 8 ¹⁄₂ in (1,435 mm) standard gauge.
 Following its withdrawal from West Coast Railway service, R 766 was converted from 5 ft 3 in (1,600 mm) to 4 ft 8 ¹⁄₂ in (1,435 mm) standard gauge by the Hunter Valley Railway Trust and was transferred to North Rothbury, New South Wales in December 2007.

The work was completed in 2018, an ICE radio was fitted in 2019 and limited line trials commenced in 2020
R 753, allocated to 707 Operations, is currently stored out of service in a dismantled state and is used as a source of spare parts for R 707.

Below is a table indicating the status of preserved R Class locomotives.
R761, operated by Steamrail Victoria, and R707, operated by 707 Operations Incorporated, are both operational. Since restoration in the mid-1980s, both locomotives have hauled many special passenger trains for enthusiasts to various destinations on Victoria's remaining 5 ft 3 in (1,600 mm) network. Prior to the privatisation of V/Line in the 1990s, it was not uncommon to see R 707, 761 or 766 hauling normal revenue-earning V/Line passenger trains as a crew training exercise. R 707 has been named "City of Melbourne" in preservation.
After a lengthy absence, R711 is now operational and accredited to operate on the mainline. Now wearing a special Victorian Railways royal blue and gold livery reminiscent of the Spirit of Progress days. R711 returned to the mainline in the later half of 2011 conducting mainline trials. Whilst remaining oil fired, the engine has reverted to a single blast pipe set up as standard on the R class fleet as well as reverting to standard screw reverser. R711 is owned by the City of Bendigo. On 22 July 2012, R711 operated its first mainline tour open to the public, double heading with R761 to Traralgon as trailing engine, as part of the annual Snow Train.
R 700 is stored pending restoration. R 700 was stored in a dismantled state at Ballarat East until early 2011 when it was lifted back onto its wheels. In May 2012 the loco was transferred to Newport Workshops during an empty cars move, hauled by K190.
R 766 has passed through a number of operators and owners in preservation. It was acquired by a company trading as "Australian Vintage Travel" in 1981 and restored to operating condition for hauling luxury rail services. It was painted in a Brunswick green livery, matching the ex-South Australian Railways carriages also restored for these services. After Australian Vintage Travel folded in 1986, R 766 was acquired by a syndicate of shareholders ("766 Syndicate") and leased to Steamrail Victoria. In 1994, Steamrail volunteers re-painted R 766 in a maroon livery based on that of the London Midland and Scottish Railway, before the locomotive was leased to West Coast Railway (and repainted in the WCR corporate livery) in 2000. 
Like several other classes, the R-class was designed for ease of conversion to 4 ft 8 ¹⁄₂ in (1,435 mm) standard gauge.  Following its withdrawal from West Coast Railway service, R 766 was converted from 5 ft 3 in (1,600 mm) to 4 ft 8 ¹⁄₂ in (1,435 mm) standard gauge by the Hunter Valley Railway Trust and was transferred to North Rothbury, New South Wales in December 2007.
The work was completed in 2018, an ICE radio was fitted in 2019 and limited line trials commenced in 2020
R 753, allocated to 707 Operations, is currently stored out of service in a dismantled state and is used as a source of spare parts for R 707.
Below is a table indicating the status of preserved R Class locomotives.
Victorian Railways R class