I got a really expensive designer suit ($1K) for a great deal... like $100 @ Neiman Marcus Outlet. It had a tiny flaw that my Mom fixed on the collar near the tag... since I have long hair you wouldn't be able to see it anyways.
Definitley check out Nordstrom's outlet, Liz Claiborne Outlet, ect... if you have them where you live.
The great thing about buying an expensive suit (even though you don't pay the price tag)... the fabric is very breathable, comfortable (usually natural silk and wool vs. polyester) and they tend to hang very nicely because they are cut well. If for any reason, your suit does not hang right--GET IT ALTERED!!!
My black/navy suit consited of a jacket and a knee length A-line skirt, I wore it with comfortable, yet somewhat stylish black suede pumps (2" heel, closed toe), and a simple, black leather bag.
For the shirt, I've worn either a solid color sweater shell or a button-down solid color shirt. My jewelry was a simple pendant necklace, stud earrings and one simple small tennis-style bracelet.
I think it's imporant that you wear something comfortable for you, and also that you wear something that's not completely out of character for you.
There are ways to add personality to a simple traditional suit.