It's likely different in business, but here's one data point: my housemate is a programmer and was mocked gently for wearing a suit to her last interview. I evidently misadvised her, even though it's a non-standard color that suits her. (I have the impression she could have worn ripped jeans and a Stones t-shirt and got hired tho; it was a headhunter situation.)

Personally I visualize a person who's been working in business here interviewing in a nicely accessorized jacketed ensemble. Maybe a brightly colored silk scarf knotted at the neckline, that kind of image. But if you have a great suit, go for that. There's a reason they're still popular, and the housemate looked good. She just looked a bit managerial :-)

M