As stated, the idea behind loot scaling was to lower the relative prices of rare items, thus making them more accessible to the general populace. It succeeded in the 'price' part, less so with the 'access' part, because most items went from high end to below low end (though that was not caused solely by LS. Instead, there were several effects pushing in the same direction).
Which part of the prospective loot is worth selling to other players right now? Remember that time is money. If it takes - on average - longer to sell the item than getting the same amount of gold through other means then the item is not worth selling. Based on that criterion, the following items are worth selling
- tomes (regular and elite)
- perfect fortitude mods
- perfect sundering mods (for noobs)
- perfect martial arts weapons enchanting mods
- "Aptitude not Attitude" and "Forget Me Not" inscriptions
- various regular and special event collectables
Trying to sell pretty much everything else is a big fat waste of time (stuff like minis and runes are not listed because minis are not loot and runes can be sold to a trader - the loss of profit is more than gained back through zero selling time). There are some valuable skins that fetch an unproportional amount of gold but 99.9% of all rares never enter the player market because they are merchant fodder.
The consequence of this is that the entire economy has become a big lottery (instead of a small lottery that it used to be). Any method of steady,
reliable income preferred by the large 'middle class' of players who are neither completely casual nor truly hardcore provides a very meagre livelihood. Only hardcore playing makes high ticket items a reliable income. The truly casual players don't even see any difference. Thus it was the middle class that got shafted by LS.