We're an agile project of about 20 developers organized in 2-3 teams, doing no pair programming, a little bit team rotation and a lot of peer reviews. Most of us are addicted to the "green status bar" of IDE code analysis (most of use idea, some eclipse and netbeans, resharper is idea functionality in the .net world).
We are considering dropping the formal code standard altogether. Being agile, we try to ditch all things that give us nothing, and quite frankly it just sits there looking like a relic from the past.
The argument is that code quality enforced by the regular code standard simply is the wrong metric; placement of braces has little or nothing to do with quality. IDE code analysis, findbugs and peer reviews creates the quality we want
Arguably we have some "hallway" code standards that you don't want to break if you expect to eat lunch with the others (nobody uses hard tabs, we have some limits!)
Are code standards a relic from the waterfall past ?
P.s. I'm not tagging this language-agnostic because I believe there is a substantial difference to what tools can do in java/c# compared with other languages.
Edit: I would not consider choice of external libraries to be part of the code standard. For most core libraries this is most certainly a centralized decision.