For another one of those detailed discussion threads, check this stuff out. They've gone and made formulae for both 3.0 and 3.5-style experience awards. Here's a link to the last page of the thread:
http://www.enworld.org/forums/showthread.php?t=86471&page=4&pp=20
Basically, for 3.5 - style experience:
Base XP = (CR^2)*300
Group XP = Base XP / Participants
Individual XP = Group XP / LV
Where "CR" is the CR of each individual creature fought, "Participants" is the number of characters in the party, and "LV" is the level (ECL, to be exact) of a specific character. For fractional CRs, treat a group of creatures as a single creature of a CR of 1 or above (i.e. for a group of 4 creatures of CR 1/4, treat them as one CR 1 creature). If you don't have multiple creatures, do the equation for CR 1 and then multiply by the fractional CR (at least, I think that's how it works.
These formulas are based on Upper_Kust's CR/EL system for the Immortal's Handbook (and published first in Bad Axe Game's Grim Tales), but work just fine with standard WotC challenge ratings. The only difference is U_K's assumption (which I believe is correct) that a group of 20th level characters
can in fact reasonably take on a single 29th level character, or to be even more extreme, that a group of 100th level characters should be able to take on a single 109th level character. The experience tables in the DMG do not allow for a group to take on challenges that are greater that +/-8 CR than their average character level.
The thread I linked above provides an alternate equation for 3.0-style experience, and goes into some detail of how to that equations for encounter design.
Enjoy
-George
EDIT: I don't know whether this method eliminates exceptions for CRs under 3 - I admit that I haven't charted the results.