You *need* to run frequent stats updates. There's no way around that, you can either run frequent stats updates or have terrible performance. Index defrags, not such a critical issue, but the stats updates are essential. Daily would be good. Is the server active 24x7?
Do you want the query tuned further or is the minute execution acceptable?
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability