Well, it's the chivalrous thing to do. If you still live by the 'old ways' or codes of conduct. It's similar to those girls who have undergone 'etiquette school', and those who don't...or boys who have been raised under certain laws or codes of propriety, civility, or chivalry.
Not everyone is for the 'old ways'. Not everyone is 'against them'. Some don't really even fall in the conflict, and others pick and choose 'pieces' from either one. Nonetheless, I mix with crowds that fall under each of those categories (and the category of folks who don't like to be categorized, too).
I simply try to live my life not only in a manner that will 'mesh' well with all of these groups, but in the most God-honoring & 'true-to-form' way that I can.
All that being said, part of the earlier idea of asking the father for the daughter's hand, is that marriage is binding contract. It not only connects the lives of the man and woman, but also 'ties' the families to one another. This was not done lightly. Who the person's family was could have been nearly (or many other sort of vein cases, more) important than the actual couple getting married.
That said, families tried their best to find good matches not only personally, but from a broader 'family' view. Now, that said, they did treat them a lot more like business transactions back then, because essentially they were in a sense. I'm not trying to keep that alive, but I do take concern into who a person is 'family-socially-religiously-affiliationally-philosophically-ext...as much as how they act or seem to be just in and of themselves.
I believe there to be wisdom in this, and try to live the best way I know how in regard to a 'balance' or 'harmony' of things.
I believe the modern version of asking for a daughter's hand in marriage simply shows that the suitor (young man) is attentive to the old ways, considerate of the family (parents especially), and honorable in the way he conducts himself. At least...that's how I understand it to be in the South. ^^
P.S. 'Hipster' adults was a joke...as the terminology in and of itself predates me, but I'll link you to it...
http://www.urbandictionary.com/define.php?term=hipster