Agree with your first sentence completely. I thought it best to retain them while we were well clear at the top as, although we were shit, we were the best shit in the league and I didn't see any point in binning them at the time. Hindsight's a great thing though and, as it turned out, I was wrong.
I don't think we should bin all of the squad though, I think there are several players, i.e. Mutch, Dixon, Kelly, Morrison, Connolly, Keena and possibly Alston & Dowds that could do a job for us next season, if not as starters then as part of the squad. Would also give us some continuity which, as we've discovered in recent seasons, can be quite important.