Obryn
Hero
Not if you used the RAW and considered 1 gp = 1 xp.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