regarding the standard price would typically be non-indexed.

I have customers with a similar setup as what you've described. They have pricebooks setup for each "currency" as well. You don't have to do it that way but ot does work and can make it more of a conscious choice when the sales rep selecta the currency. Their foreign pricing model isn't based sorely on the conversion rate. The cost of business is greater for them in foreign counties so they adjust their foreign pricing up accordingly. The conversion rates then are only leveraged in reports to convert the foreign currencies to the users default currency.