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What about if I had server grade hardware like an Intel Xeon CPU E5-2650 v2 @ 2.60GHz with 16 CPUs?

It all depends of the coin but GPU is still more powerful than CPU

I have 2 Xeon Servers with 48 CPUs. I am running both using 24 threads on monero which averages around 3Kh/s which equals about 0.05 monero/day.

So no, not worth it. Maybe move onto Aeon (@3Kh/s ~1/day) or SumoKoin (@3Kh/s ~10/day)and hope for a spike in value.