First of all, welcome to MacMod. What a great dilemma you have. I would take the parts and salvage what I could and build a local home server, maybe an HTPC, maybe sell some of the logic boards, etc. There are tons of things you can do with them! Don't throw them away! There are lots of folks here that would love to have some of that hardware.
"Fix it 'til it Breaks."

Jacob - EiC & Director of Technology
Mac Pro Quad 2.66 - 4GB RAM
160 GB SATA RAID 1 - 650 GB Storage
Quad 19" Widescreen LCDs
Accessorized to the Hilt