In the mean time I found the application note AN3430 (http://www.st.com/internet/com/TECHNICAL_RESOURCES/TECHNICAL_LITERATURE/APPLICATION_NOTE/DM00033348.pdf) which is somehow more digestible (only 38 pages) which gives an excellent overview on power saving in the microcontroller.
Since I don't have access to PA0-WKUP (the wake-up pin) I had to discard using stand-by. Seems that just a simple sleep mode in main loop - by calling __WMI(); - should lower current consumption enough in my case. I might consider stop mode if sleep mode isn't enough but I will have read fragments of datasheet on configuration of EXTI registers that the application notepoints to.