Some changes I would make:

- get rid of the switch from full or bulk to simple mode or make this an option. This could break log shipping, backup chains, etc. if not careful.

- If the index is rebuilt, skip the update stats portion. An index rebuild always updates stats with a 100% sampling rate. (See http://www.sqlskills.com/BLOGS/PAUL/post/Search-Engine-QA-10-Rebuilding-Indexes-and-Updating-Statistics.aspx)

Otherwise, very nice.