This is a an Excellent theme. As a theme developer, I can accept this. But for the client this might be harder to modify. Like for even removing a footer link, I have to use the functions.php. Is there any easy way around. I am going to modify this heavily 
Thanks again Aigars. Will tell about this theme to my friends.
Thank you for your feedback!
I didn’t realize that I have created that poor support for Child Themes until now. I haven’t worked a lot with child themes in the past.
I found this nice tutorial about child themes here: http://wp.tutsplus.com/tutorials/creative-coding/how-to-modify-the-parent-theme-behavior-within-the-child-theme/ This will allow to modify most of it but it won’t be an easy task.
Will see what I can do from my side to make it more friendly for developers.
Thanks! You rock. Hope to see a developer friendly version soon