Use gnome-fallback.session
It's the "old" panel system and menu written in gtk3, as I understand it. Haven't tried it personally. My asus Aspire One netbook runs gnome-shell wonderfully (running Fed15 from alpha with updates).
The Clutter team has made massive improvements with regards to performance and more should be on the way.
Suspend and hibernate are still a bit problematic in general. Sometimes they work perfectly, and sometimes they don't, especially if binary drivers are being used. In my own experience I'm using the OSS Radeon drivers in openSUSE 11.4 and both suspend and hibernate work flawlessly. My cousin is using the nvidia binary drivers on Ubuntu 10.10 and hibernation works 1 out of 5 times or less. I believe this isn't something that can be easily fixed by distros, but maybe you're right and it's for the best that suspend is the default behaviour. Let's see how that turns out.
I didn't really mean distros would fix all the suspend/hibernate stuff, that comes along with the devs who will now start to use them. Most likely they will hack in a config option somewhere to enable/disable suspend when you close the lid.
I know it's a different scenario, but Chrome OS has done this all along and I haven't heard too many complaints from users, unofficial builds included. It seems to "just work" with 100% success rate on every laptop I've tested so far. This makes me think it's just a matter of updating any configs and/or blacklists to include a wider range of hardware.
I've always avoided using sleep due to issues in the past. But i tried activating sleep a number of times on opensuse 11.4 with catalyst drivers and broadcom wl drivers and there was no issues and it was fast. Now made it the default when I push the power button on my laptop.