After working with stand-up meetings for a while I feel that this practice acts like a thermometer for an agile team. As a constant status report, it demonstrates how most of the other practices are being applied and how good is the team communication in general. That's why I believe is important to be conscious about what happens during them. A stand-up meeting may hide problems if:

• It doesn't have an exact time to start
• It doesn't happen because someone is not present
• It's a trigger for technical discussions
• It's not focused on to the plan
• It doesn't contribute to continuous improvement
• It's a report for a single person, not the team
• People don't stay close to each other
• It's frequently interrupted
• It doesn't include the whole team
• People don't remember what they did on the last day
• It's moment where most of the problems are raised
• It takes more than 15 minutes
• It doesn't happen every day
• It doesn't feel good

These are all simple issues which can easily be addressed. In fact, most of the items on this list are discussed on Jason Yip's article about stand-up patterns. The most important thing is that it may as well be the a good starting point to identify and improve other aspects of a project.