Editing effects on multiple objects

Isn’t there some way to edit an effect that has been applied to multiple objects. For example, if I apply the same drop shadow to several rectangles then I want to edit the shadow, it seems I have to go back and edit each rectangle individually, even if I want to apply the exact same edit to each. This is nuts!

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  1. Copy the drop shadow that’s been changed.
  2. Choose the Selection tool and Shift-click or drag across the objects which are to have the same shadow effect.
  3. Choose Edit>Paste Special>Paste Effects.

The objects are given the new drop shadow.