Ooh! I am so glad I'm not the only person who has thought on this. I brought this up in a church group once (I no longer go to that church, for other reasons as well as this one) and everyone looked at me like I was nuts!
I will say this, since I have become a Christian, I have felt a growing conviction that the way I dress is very important, because worldly people can make wrong impressions about me based on what I am wearing. Ha, I don't go so far as to dress like a "Little House On The Prairie" girl, but I do make sure that my clothes are not provocative or revealing.
But, actually, I think it is practical in a worldly sense as well. If you do not engage in promiscuous sex, why would you want to dress like one who does? I remember talking to a girl on the bus one day, and she says, "Why do guys always think I'm available? I have a boyfriend, and I wear a promise ring on my left hand, so why do they constantly approach me?" Well, first she was beautiful. But second, and more importantly, she was wearing skin-tight leggings and a halter top that was cut so low her strapless bra was visible. She was quite obviously wearing a thong, and her earrings read "Sexy." All in all, she was not showing an extreme amount of skin, but her whole outfit screamed "Available!"
There is a way to look good without appearing like you are promiscuous. I receive a great many compliments on my clothes, but they are not revealing or super-tight.