There's something wrong when I can't even GIVE away a +4 magic weapon. When I acquired the Ice Giant's flail I thought it was great and would be worth some raise scrolls at the least... turns out nobody wants it because it's un-sellable.
I'm thinking that high-level items like this should probably be made sellable, especially since the change was made to the XP and item value structures... I've been watching my gold steadily decrease since that change because it costs me a lot in healing kits to explore the areas that will actually give me XP nowadays.
Being able to sell those items for a good chunk of coin would make them MUCH more worthwhile... till then, what's the point of even picking them up?