Regarding this:
Can I just dump this overtop of 2011 and away I go. From what I remember from using IS before, upgrades were fairly seamless with regard to the projects.
InstallShield 2012 can be installed on the same system that has earlier versions of InstallShield. The IS 2012 installation does not remove earlir versions. Just keep in mind that Visual Studio can be integrated with only one version of InstallShield at a time. Also, only one edition of InstallShield 2012 can be installed on a system at a time.
Regarding this:
I'm also interested in the suite install concept. Is that part of Professional or Premier do you know?
Suite support is available in the Premier edition. It's not available in the Professional edition.
Debbie Urman - Staff Technical Writer - Flexera Software: InstallShield/InstallAnywhere