The Terrace Suites, Club or not, are basically corner rooms, and their terraces, which wrap around the corner, will hence be visible from the terrace in the next building, especially if sitting at the 'surfboard table' which is at the outer corner. That said, there is a fair distance between buildings.

The building I was in had 3 floors. Terraces get bigger as you go down, but view gets better as you go up... The roof of the building one level down will partially interfere with the lower floors' views (not a concern at the top level, where the height differential is higher).

Standard rooms should be more private, if darker, as their balconies have walls on both sides. I imagine that if the curtains on the side windows of Terrace Suites are closed for privacy, there is not much difference between the two. The main benefit of the side windows is IMHO to observe the occasional monkey family
The word 'suite' is misleading, unless you count the terrace as a living room, as the only separate indoor area is the large entrance foyer, home to a desk, minibar, desk and chair.