In a word, no. Use your time off. The value it brings is more than the pay. Think cigars. Why by something you're going to burn? Because the value it provides is worth more than the financial hit. Same is true of vacation time. I asked for more at my last annual review in lieu of a raise. Got the raise instead but I would have prefered more time off I could spend with my wife, kids, and extended family.
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In the last company I worked for - we were required to use our PTO. It was an internal control - force someone else to do the person's job for a few days just to make sure they weren't doing anything shady.

That being said - I'd want to use it anyway. My current company is use it or lose it - but I've already got all of my PTO for the year planned :-). No problems with using it all up here!
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I sold all of my time back at my last job but that was because i got 100% for it and i was leaving so i would have lost it otherwise. If i wasnt leaving i would have never sold any off it. The time off is far more important to me.:-)
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It doesn't sound like you've had a vacation in a while. If it were me I'd probably sell enough back to finance a trip somewhere and take a week off. That is provided you can do that of course.
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I used to sell back 80 hours a year, I pick my own days off so I could make vacations work with holiday time, days off, and the remaining vacation time.

The last couple years I carry over what I don't use (I can carry over up to 200 hours a year), and try to increase my time off available each year. This yesr between vacation, holiday and personal time, I can take up to 58 extra days off.
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IMO, time off is worth about 1.5 my pay rate. I get relaxed, get non-work things done, get recharged, all that.

Dunno about your situation, but here are some things that I would consider:

1. Is there a limit after which I am unable to accrue more PTO?
2. If there is no limit, if I am fired, quit, or retire, do I get it back paid?
3. If there is no limit, can I use it in large chunks in case myself or someone in my family has a serious medical emergency/condition/life altering event?
4. Even if there is a limit, might I want to have a large chuck some day?
5. Do I have short-term disability insurance. PTO can be used to cover the gap until long-term disability kicks in (you have it, don't you?).

In 1988, when I left the Boeing Company, I lost about 250 hours of sick time that I never used (back then, there was a strict separation between sick and vacation time). Nothing that I could have done about that, but if I stayed until retirement, the hours would have been rolled in to my retirement calculation - at least at that time.

It's a bit tricky to recommend in your case, but if you need the money, go for it. If you aren't going to lose anything by hanging on to it, then I say save it since the 90% of your hourly will hopefully be higher in the future.
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Going off Jluck's comment, do you know what tax rate you'd pay on the time if you sell it back? I believe it might be taxed at OT rates, so you'd end up losing even more value. My vote is us it.
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Thanks for the advice everybody.
I'm going to find a way to use the time. The more I think about it the more it seems crazy not to get away more. Of course with all this time off I'm going to need more cigars. I'd better stock up. :-)
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