In a real life (programming) scenario, the Hungarian Naming convention, especially the part where you need to prefix each variable with the type becomes very cumbersome. Especially in a world of intellisense and other code-completion tools, it may be argued that Following naming conventions is overkill. The goal here is simplicity - Standardization. When you standardize and follow a fixed set of rules, it means that the work that you leave behind for another programmer to complete or extend, is simple to maintain and utilize. This alone can save companies over 90% of the software cost over time.

C#.NET Programmers: Utilize a utility like FxCop on your source files to ensure that your code is standardized. If manually following a naming standard is cumbersome, which it is, this will enable you to ensure that your code is compliant with the programming standards for the Microsoft Programming Platform. Other platforms may/may not have such tools available.
Remember, the world of programming is turning into a work smart, not hard world - always has been, but increasingly so in the last 10 years. Ask me if I will ever use the Afx AppWizard again.