Fat Asian Baby

Had this argument with ambiguator last night: are hipsters cool or are they just really big geeks? and tangentially, is geekiness, through the transitive power of irony, the new cool. C'mon. This is really important. I need to now how to treat the hipsters I pass on the street next time I venture downtown.
Please advise.
Unclear about how to recognize a hipster? Consult your handy copy of the Hipster Handbook.