Does that mean that I hardly get xp from those quests?
Based on how it works now (with mob scaling having an impact on Exp received) quests still offer Vet Rank exp, even if they are leveling quests, when you complete them. You just will get little exp (30%) for any mobs that are more than 50 CPs below you, and none that are L49 or below.
It seems that under the new scheme, if you want to grind mobs for experience, its going to be a long slow process if you have more than 210 CPs.