The update stats routine looks for stats needing updating, so I'm figuring if an index was rebuilt and the statistics related to it were updated, then the stats routine would ignore it. Part of our problem I'm sure is having indexes that help both with OLTP and OLAP queries against the same database. Data warehousing should be in our future. If we did use simple recovery, we'd have exposure from about 7am Saturday ( last diff backup completion ) and early Sunday morning when the full backup completes. I'm not exactly sure when log backups would resume if the full launches upon resumption of full recovery mode.

Keep in mind all backups are handled by Commvault, not sql agent jobs of any kind, and Commvault makes it's own decisions about what to do based upon database events like a recovery model change.

I have the feeling that weekly stats updates are more important than minimal index fragmentation, so I could experiment with higher frag thresholds in that job. I think our default index fill factor is 90.