There are a lot of really cute examples of projects you can sew from selvages. If you look on Etsy and Pinterest you can find lots of great things made with selvages. Love those funky chickens OKSewGlad!
I've been in love with those colored dots on the edge since I was a kid. You are right - it is a bit of history. But I've never really saved them until my last quilt.
Recently I made a Kaffe Fassett strip quilt from more than 82 different fabrics. I knew it wouldn't take away from the strips I needed to cut for the quilt, so after the fabric was pre washed and ironed, I cut the selvages off in nice long strips with 1 inch or more of fabric still attached. Not all the fabrics had pretty selvages though. Then I folded them all up and mailed them to a friend on the QB who is a huge Kaffe Fassett fan and selvage user. She really liked them.
I'd say saving selvages is worth it because even if you don't plan to use them, you can always find someone who would love to have them.