I saw a brilliant quote from a one-time regular poster in the feminism section about this issue:
"It's about separating the fun from the burdensome"
I am aware of the feminist analysis of high heels and make-up and I agree with it 100%. I still wear (very light) makeup though and occasionally high heels (though never sky-high ones).
Makeup can be about a lot of things. Some people use it to make a statement (e.g. goth or punk). If we're honest with ourselves most of us probably do wear it because we think it makes us look more attractive. Not because we're trying to pull but because looking more attractive makes us feel more confident, which has a lot of other beneficial knock-on effects.
There's nothing demeaning about that - it's a behaviour hardwired into us through evolution after all. It's just that what is considered 'attractive' is now determined by our culture, and as such doesn't necessarily mean natural, attainable, or even desirable if you start thinking about it in more depth.
I think wearing make-up is absolutely fine, but it's always worth asking yourself what you enjoy about it. If you feel very un attractive unless you've spent over two hour beautifying yourself every day, then it's clearly taking over your life and it would be worth questioning the values of a society that demands that of large numbers of women in the same way we are beginning to question the size-0 culture. But most of us don't go to that extreme.
High heels are something different I think. There is hard science to show how damaging they are. You can wear fashionable shoes with slight heels that elongate your legs yet still allow you to walk naturally without resorting to 6-inch-high monstrosities that cause back pain, pelvic problems and bunions. And again it's about context. I'll wear (slight) high heels on rare occasions because they suit my mood and the event, but I wouldn't wear them on a daily basis. If you feel you have to, again, ask why that is. Why don't men have to conform to such a standard.
Buying into the myth doesn't make you a lesser person or a fool, but I think it's good to question it. Most of us establish a compromise between vanity and comfort, and that's ok I think as long as any sacrifices you are making for comfort are done with your eyes wide open and aren't causing you long-term physical problems.