Like I said, I think most people don’t need XP awards to enjoy the game, but the benefit they have, while subtle, is significant. The difference it makes isn’t obvious like getting rid of bookkeeping is, so it doesn’t surprise me at all that players might appreciate the lack of bookkeeping and not consciously appreciate the lack of progress as a direct reward for their actions. And hey, if it works for your group, how much that difference actually matters is pretty academic. Keep doing what’s fun for you!
I have tried other ways, and they have their own benefits and drawbacks. I use the method I do because I think it creates the best player experience overall. YMMV.
If they have significant benefit for you and your group, you're doing it right. Just saying that not everyone would agree. Then again, I don't even give specific numbers for individual treasure found, I just let everyone know at the end of the session or after the game if I need to. At first some people found it odd, but now they don't even bat an eye.
Which is one of the strengths of D&D IMHO, each table can implement what works for them. Vive la difference!