I've only tried the State Room Suite, which is the second lowest price category. They're bigger than the Studios and the Courtyard but are priced lower than the Courtyard because I think they're located in a less desirable wing of the hotel where your wing over-looks public areas as opposed to the tranquil private courtyards. My understanding is that the fit and finish/amenities are the same for these suite categories, so its really about size and location within the building. We liked the State Suite which came with a full-sized living room and the sound-proofing was excellent despite being near the new location of the Long Bar and the main street.
One thing we really didn't like about the Raffles is the welcome/entry experience. Because so many sight-seeing non-residents/tourists try to come into the hotel, they keep the main doors locked (you can open them with a room key) and when you enter the hotel you're more often than not challenged as to your business. It's really an awful welcome back experience for a hotel guest and not at all 5-star. Having to swipe your key card felt like being at the office. Doormen don't open the door and greet you upon return and to be questioned when you walk into the lobby of your own hotel doesn't feel great "Can I help you?" "Where are you going sir/madam?" etc. It's too bad, because being able to return through the lovely main lobby should be one of the highlights of your stay, but by the end we would just use one of their non-descript side entrances to avoid the hassle. I raised it with the hotel manager and he essentially said that they couldn't do anything about it because they try to dissuade tourists from coming in.
The welcome is a no-go but common in tourist hotels who wanna be luxury. "Where are you going" would be returned with a very special answer so that person would surely remember me