*standard philosophical ego disclaimer: I as well majored in philosophy*
Changing talk from "pleasure" to "preferences" doesn't change the basis of the argument. They only list such an "old" argument because it is all you need to know about the argument, that it is centered around a type of calculus that determines whether something is morally right or morally wrong.
Others, myself included, do not believe such things can be quantified. I instead take a moral pluralism stance on ethics.