Why? I just called SPG and got connected to an EU call center as was given all the details! Here's a few hilights.

1) Suites benefit is for all stays (including C/P and award stays)
2) Lifetime plat does NOT need to be consecutive, but all 500 nights must be from "Platinum years."
3) Suites can get you "better" suites at all-suite properties. For example, the rep said at the St.R Bali, this could get you up to a Pool Suite - cool!
4) UGs will be requested immediately (for a SPECIFIC suite type, property-specific, of course) but not confirmed until five days before arrival, or up until day before arrival.

On a side note.... Big ^^ to all the SPG Plat reps who made the last two hours so much fun - you know who you are! Haha