Don't forget there are also weight limitations on carry on bags, as well as size restrictions.
This touches on the trade off that I run into on my international flights. Wheels and ridged frames are really nice and convenient, but eat into weight, which reduces effective load, and as I mentioned in an earlier post, the frames (or lack of) give more flexibility to "stuff" into overhead spaces or under the seat.
That's why I found out (by accident) on my last trip to Europe why the light "gym duffel bag" so useful in the carry on role. Very light and inexpensive. Pick your size and stuff it.
I don't have to worry about business suits anymore, so that is not an issue. When I did (before retirement), I did, even in the less restrictive days of airline flight and carry ons, resort to the trick of hanging the suit in the hotel/motel bathroom, and running the shower nice and hot, building up the steam and ending up with a wrinkle free suit. Martin's advice is right on: if you need a suit, wear it! And put a clean dress shirt and tie in your carry on.
I hate checking baggage. On occasion, I've waited longer for a checked bag than the flight took, not to mention the damage to and theft out of checked bags.
On the rare occasion I do check a bag, there is nothing in it that I can't do without or afford to lose.