As to whether the tables themselves are a significant portion of the value of the Magic Item Compendium as a whole, the fact that Wizards published some of the tables on their own website for free seems to weigh against that.
I think that the descriptions of the items make up the bulk of both...
I just wrote a treasure generator in Javascript using the treasure tables out of the 3.5E Magic Item Compendium. I'm wondering if it's OK to post a link to it on the forums here, since the MIC tables are not part of the SRD.
The output of the generator consists of a simple table of item names...