It seems that hotels in Melbourne like to play the "specialty" suite game and exclude suite upgrades for any elite members. The newly opened AC Hotel Melbourne is like this even though there is nothing special with their suites. They even removed their suites from the SNA pool.
The Ritz-Carlton Melbourne is no different. Free Suite upgrades are off limits because their suites are "specialty" suites. Also expect upgrade to the next category only. I booked the basic room and asked about the upgrade to their Panoramic room (one category below their suite) and the front desk staff then was getting ready to calculate the rate difference trying to upsell. I told her that I understood the "specialty" suite thing but there was no reason why they wouldn't upgrade me to at least the Panoramic room. She agreed and happily offered it me. It's just a reality now that increasingly you will need to fight for your upgrades.
Other than that, this is a fabulous hotel with great service. Rates start from AU$500 but certainly are better value compared to most 5 star properties in the region.