Stand ups are the way for lazy "managers" to find out what is going on. Leaders already know because they talk to their team everyday and have already given advice, assistance or connected people to resolve the issue.
I rarely use stand ups within dev teams. Where I do use a form of them is between departments, or between teams within a department, but rarely at the internal team level.
For me they are an easy way to keep up with what other people are working on. When I need to make some changes to a module I'm not familiar with it's helpful to be vaguely aware of who has been working on what.
It's also a convenient time to bring something to a coworkers attention. I'll often come up with a few questions that aren't particularly urgent. In those cases, I'll save them for the next morning's standup rather than directly messaging that person and potentially interrupting their workflow.
I also don't find the need to insist that the participants actually be standing, or even in the same room. I think it's nice if those things are true, but also find value in a "virtual standup" done via email, IM, etc.