If I understand correctly, you don't need to use the command-line option flags with postmaster anymore. You can change the settings to whatever you desire in your /usr/local/pgsql/data/postgresql.conf file. The -B flag is shared_buffers; the -o "S 2000" flag is sort_mem. Both are listed in the Performance section of the aforementioned PostgreSQL configuration file. I believe by default, the entire file is commented out.
Sorry, I don't know anything about the restart-aolserver stuff.