Will suspend foil a "Cheesy" victory?
Yes, you will win.


  702.61b A card is "suspended" if it's in the exile zone, has suspend, and has a time counter on it.


And a ruling on exile:


  Exile is a gamezone outside the field of play. It was known as
  "Removed from the game" before it was renamed in the wake of the Magic
  2010 rules update.