(answers aggregated into another question)
The following jquery 1.3.2 code works:
This may be more of an issue with the console. I ran a test and it seems to still grab the instance of the element. I can't exactly tell what you are trying to do here.
If you are just trying to validate wether the object was found check the length property
console.log( $('#xid').length );
If you are trying to get the value of the field then use the val method
console.log( $('#xid').val() );
Finally, its possible that in your solution the DOM hasn't fully loaded yet. Make sure you are wrapping your logic inside a document.ready call.
$(document).ready(function() {
console.log( $('#xid').val() );
});