Pretty sure it's just ((Mob Level ^ 2) * Zone XP Modifier * some constant) for a solo kill. In later expansions there was a "high con bonus" that I don't believe is implemented here.
So it becomes just a matter of how much XP can you get over a set time horizon killing mobs of a certain level, including your downtime/medding/regenning/etc. There are also some variations in mobs of the same level hitting harder/softer, having less/more HP, etc (i.e. bloodgill goblins in LOIO seem to die fairly easy for their level).
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Another witty, informative, and/or retarded post by:
"You know you done fucked up when Yendor gives you raid commentary." - Tiggles
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