"Josh Tolley" <eggyknap@gmail.com> writes:
> Although questions of "which is faster" often depend very heavily on
> the data involved, the database schema, the hardware, etc., typically
> people find it best to drop all indexes during a large import and
> recreate them afterward.
See also the extensive discussion of this topic at
http://www.postgresql.org/docs/8.2/static/populate.html
regards, tom lane