Real are constantly reported as being interested in Suarez but never from legitimate angles - not like, for example the Modric or Bale interest, where the players make it fully known that a transfer is on the cards. Makes me suspicious of any chance of them actually going in for Suarez. I think Real would only buy Suarez if they ran out of other ideas.
Probably the biggest reason I don't see Suarez going to Real is that I don't see how he fits in, on footballing terms. Benzema isn't amazing, but he has tidy footwork and can play the ball like a midfielder around the box to put in Real's real goal threat, which is Ronaldo and Bale. Suarez has an admirable amount of assists to go with his goals, but he has a lot of freedom to just terrorize as much as possible and doesn't really pass consistently, which is important for the role that Real has their strikers play.
I think Aguero is the one they have their cross-hairs on, and I don't think that's happening either, personally. Aguero is the perfect compliment to Suarez, too bad we'll never see them on the same team. Cavani/Suarez is pretty excellent though.