I would try to fix it first. I mean if you are going to deem it as a "gonner" I would at least try to fuck with it and get it going again
Also, being the avid gamer that I am, I have to recommend playing more titles than just "NHL 2k3" and "Tetris Worlds" or whatever. If I were you, I would buy a new Xbox, keep the peripherals you have, and pick up some titles recommended by the one and only Lasereth

They are cheap nowadays. That's if you can't get the current one working again.
If you HAVE to sell the items, Ebay it. DO NOT pawn it at EB or Gamestop, they won't give you shit on a stick.