I believe in being modest. I just don't believe that it is the ultimate test of Christianity, and I get tired of being judged or looking at other people and having to stop myself from judging them based on what I've been conditioned to believe about outward appearance.
Recently one of my nieces told me about a wonderful spiritual experience she had at Youth camp, and believe it or not, the cynical side of me was saying "Yeah, right" inside my head--simply because they don't keep standards. I had to correct myself inwardly and do a personal "How dare you", regarding questioning someone else's experience with God--based on what they WEAR. Btw, they are Apostolic in doctrine.
What's crazy about it, is the LOGICAL side of me doesn't even buy into the modesty=spirituality mess, but I obviously have been influenced more than I realize by some things that have been taught.
On the flip side, of COURSE I believe modesty is important. I believe it is important to GOD, though, only from the perspective that we prefer our brother, and treat them with respect, e.g., don't eat meat in front of a vegan. Application: Don't flash your cleavage to a brother. (or non-brother)
Modest in this culture is certainly not the same as modest in Jesus' day, but the
principles are the same. I think we can all agree that you don't dress in such a way that causes others to lust, but yet we also understand that someone who has a corrupt mind is going to lust no matter what you have on. I think we can agree that we shouldn't spend obscene amounts of money on apparel, but at the same time, I agree with PO that being a good steward also means investing in quality items.
This is not a simple topic, and it is OVERLY simplistic to say that a person who isn't modest isn't holy, or that a person who is holy WILL be modest. Again, according to whom?