Great review thaliajen ; your experience mirrors mine when I stayed there on 23-27 July 2010.
I didn't get a suite as a PLT but I didn't really care or push for one. The location of the hotel is a little bit out of the way compared to the other hotels in the area, but it's only a 10 minute walk and your in the middle of Anchorage.
Club Lounge was pretty weak and I didn't rush back there just to get my free food though I did (and like many other guests) take or stock up on bottles of water / juice ^