Sounds ok to me, especially if you plan on using local indexes => should definitely reduce your maintenance window (eg, update stats, reorgs) if you only have to worry about the most recent couple months of data/indexes.
For each new year I'm assuming you'll be adding new partitions on a quarterly (3-mos) basis, too?
Do you plan on doing any sort of delete/purge processing on the 'old' rows at some point, and if so under what criteria? If you can partition based on your delete/purge criteria you'll likely find 'alter table/drop partition' to be a bit faster than running DELETEs (NOTE: global indexes will still need to be rebuilt).
