Yeah. You don't get any more benefit from killing a 70 elite than you would a level 6 elite, if you're level 1. Blizzard got tired of you damn power-levelers and reflected it in their algorithm (read the code).
I assure you they actually did that. If you can find a way to aggro a level 60 mob at level 1, tap it, and then have a buddy kill it (without you dying in the process), I assure you that it will give you 120 experience.