Coding Standards aren't needed if...
I don't push code formats so much in my own place of employment. Call all your local vars 'i' for all I care. However, each new scope needs to be documented. Whatever happened to good, old-fashioned sub / function block comments, detailing all the vars passed in, any that are changed, local usage, etc etc etc? If that's in place, you can easily maintain even the most obnoxious of code with the most bizarre var names.
I give anyone who dares utter the phrase "oh, it's self documenting code" (often claimed by such Hungarian Notational types) a good stern frowning and they typically back off and start commenting.
I write all my code as if it were something I wouldn't see again for six months - meaning that I over-comment, so that I know my rational for wierd looking decisions so that I don't break anything when going back through. Doesn't everyone write like this? With maintenance in mind?!?