I prefer date_trunc:
select date_trunc('minute',timestamp);
myself. Plus you can index on it:
create index table_ts_by_min on table (date_trunc('minute',timestampfield));
and then group by, order by, and where clauses can use an index on it.
However, I'm speaking of things that work in the database in my signature. Not sure which one you're running as you didn't mention it.