Suspend has never worked on Acer notebooks for me with any Fedora release, or Ubuntu for that matter. I have tried on Aspire 5004 and a Travelmate (don't remember the model number). I have set my notebook to hibernate and that works great. The only problem that I know of is that bluetooth service has to be restarted if the device was active when hibernated.
Ok. Just tried hibernation and that indeed works great.