Obryn
Hero
Not if you used the RAW and considered 1 gp = 1 xp. In fact, it is very worthwhile to sell off those unneeded items as soon as you can, once you get out of the dungeon.However, as you said, selling magic items was pretty much pointless. Hence we kept weak magic items around on the off chance that we might use them.
A Gem of Seeing (to name an extreme example) nets you 2,000 xp if you keep it, but 25,000 gp+xp if you manage to sell it! That'll keep you in hirelings for years.
Heck, even a humble +1 sword only nets you 400 xp for keeping it, but 2,000 gp+xp for selling it.
-O