It is worth something. I use Elements 7 on my tower which is much better (IMHO) than elements 12 on the laptop. I base that on fewer clicks to do the same thing, easier screen navigation and just simpler to use. The liquify tool on 7 is also much easier and manipulable than on 12.
It won't be worth much, given it wasn't that expensive in the first place, but for someone with a slightly older setup and kit, £20-30 would be a good investment.