I've got 2 rewards to redeem at present.

Not sure if the suite upgrade for the first one is worth it. Mostly stay in HIX, HI etc. (that's what's available where I am), and I either get a normal room or a possible upgrade anyway and there generally aren't any suites there.
ICs I don't know if they count, and Kimptons I've stayed at once and they're nothing special really compared to what some believe here.
Next IC stay is going to be at a club lounge access rate, so I'll get fed and watered in there.

A suite might be handy if impressing a young lady friend. Not sure if it's for a single night or the whole stay.

Second one, 2 x £15 Food & Beverage wise, not sure. Get maybe 500 points or a diamond breakfast anyway at a CP, and if I do eat at a hotel, it's usually a bowl or two of chips / fries for <£10.
Could go for the 5k points which is £20-£25 to buy for me, although could get £30 min. value out of that for a rewards night.

40 night wise, does this line regarding lounge membership mean that if I selected the reward on the 1st January 2023, it would last until 31st Dec 2025 (or 1st Jan 2026)?
"Once selected, Lounge Membership reward is valid for the rest of this calendar year, plus an additional 12 months thereafter"