I stayed there for 5 nights on points in August and as a point redemption it offers cracking value. The stay should have cost 1300euros, but instead was only 120,000 points. Theres no exec lounge so instead all plats are offered free breakfast and free minibar, including the food offerings. With breakfast piling in at 25euros per person and the minibar including beer this is a very sizeable benefit.
As for rooms, we faced a similar dilemma to you, we wanted a sea view, could have gone hoping for an upgrade, but they do have plenty of the lower rear facing "mountain" (ie Football pitch) view rooms.
As it turned out I took the cowards way and paid for the seaview upgrade, most rooms are seaview anyway, but had no cause to regret the decision, as the hotel was very busy and I think a free upgrade would have been unlikely. I am afraid the same goes for your hopes on a suite, plus the big factor that there's not many and a high-rolling area means that the hotel may not gamble on nil demand for the suite even if its free at the commencement of your stay.
Then again you are a plat premier, but even so, I would be surprised at an upgrade to suite in such a high demand, big spenders area.
As is so often the case with upgrades, book 'em if you really want 'em!
You should have a great time, its a competent hotel (not the greatest.. this is Monaco after all!) with great views, right on the french border with Monaco. We loved it and will return, on points as that's its best value at current exchange rates...