14 And it shall come to pass that my people, which are of the house of Israel, shall be gathered home unto the lands of their possessions; and my word also shall be gathered in one. And I will show unto them that fight against my word and against my people, who are of the house of Israel, that I am God, and that I covenanted with Abraham that I would remember his seed forever. (2 Nephi 29)
The gathering of Israel in the latter days is just one part of the prophecy -- the word of God is also prophesied to be "gathered in one."
Interestingly, these two gatherings began in large part with Joseph Smith. Of course the priesthood and the ordinances were restored through him, but so were many scriptures. We have the Book of Mormon -- which also contains many prophecies from the brass plates, the record of the Jaredites, in addition to the writings of many Nephite prophets. We also have the Book of Moses, the Book of Abraham, etc.
Why restore the words?
Nephi is taught in a vision why the words are to be gathered in one:
40 And the angel spake unto me, saying: These last records, which thou hast seen among the Gentiles, shall establish the truth of the first, which are of the twelve apostles of the Lamb, and shall make known the plain and precious things which have been taken away from them; and shall make known to all kindreds, tongues, and people, that the Lamb of God is the Son of the Eternal Father, and the Savior of the world; and that all men must come unto him, or they cannot be saved. (1 Nephi 13)
An angel teaches Nephi the importance of these words -- they will establish truth, make known the precious things which have been lost, and show men how to come unto Christ.
In the same passage we get this declaration, a set of themes which has been on my mind a lot lately:
37 And blessed are they who shall seek to bring forth my Zion at that day, for they shall have the gift and the power of the Holy Ghost; and if they endure unto the end they shall be lifted up at the last day, and shall be saved in the everlasting kingdom of the Lamb; and whoso shall publish peace, yea, tidings of great joy, how beautiful upon the mountains shall they be. (1 Nephi 13)