Comment 79 for bug 508516

Are you sure that you ran gconf-editor as "user" and not as "root"? Each user has its own gconf settings and if you log in as "user" then the lid signals will be processed by the user's gconf parameters. If you set those parameters from a root shell or by using "sudo gconf-editor", then you will set the parameters for root and when you close the lid it will still suspend, as user still has the suspend parameter.

If you can confirm that this is not an issue, then I can check other possible problems.