I have pretty much done the same. As they grow out of clothes the ones that are badly marked, lost shape etc get tosssed, ok things I donate to daycare for spares, and good stuff I have kept. I have lots of plastic storage containers full of clothes.

Luckily for me I have 3 boys, that being said even if you do have a baby in another season it might be a different size and you may still get some wear out of them. Better to still have them than get rid of them and regret it.