I'm an independent that lives in NYC. My vote is always a throw away vote.
The purpose of a dictionary is to aid you in understanding the meaning any English speaker or writer is trying to convey independent of the time period or location, not to dictate valid and invalid words. Some words might be dropped from abridged dictionaries when they fall out of popularity but in 'The English Dictionary' (which doesn't really exist but is approximated by dictionaries like Oxford's) words are added but never removed.
This is different, than say, the mission of L'Académie française which is to act as a language regulator and maintain the official vocabulary and grammar of French.
Sesquiedalian seems to have been popping up since the 1600s.
http://www.oed.com/view/Entry/176752?redirectedFrom=sesquipe...
It's actually a sign of intelligence to use the simplest language necessary when expressing yourself to a broad audience (many with low education). People who use unnecessarily large words are usually doing it to try to sound smarter than they are and to build up their own egos.