Keith Fiske's pg_partman is a pretty nice tool for managing partitions of tables. I've recommended it recently to a couple of clients, and it's working well for them.
Based on that I have made a couple of suggestions for improvement, and today he's made a release including one of them. Previously, the script to rebuild the child indexes essentially removed them all and rebuilt them. Now it only removes those that are no longer on the parent table, and only adds those that are on the parent but not on the child, so if you just add or delete one index on the parent that's all that gets done on the children too.
I'm happy to say that he's also working on my other, more significant suggestion, which is to have a hybrid partitioning mode where the trigger has static inserts for the likely common tables and dynamic inserts for the rest. That will mean you don't have to make nasty choices between flexibility and speed. I'm looking forward to it.