I've owned one suit. It is the suit I wore to a second interview where I did eventually get the job. To the first interview (I was completely new to the customer to a corporate/enterprise thing). I wore a buttoned shirt, slacks and a tie. The person who interviewed me first clearly did not want me for the position, so when it was over I was frank with him and asked what I could do better for my next interview. He said that he would prefer I had wore a suit, but that at least I had wore a tie, which was more than any of the other people he had interviewed had done. Interestingly, I got a 2nd interview, so I bought the one and only suit I ever wore...and only wore it that one time. Got the job, and since then my other jobs have been through networking where I didn't even need to bother with dress code or resumes.
I've helped hire a few people at the places I've worked over the years, and I will say I am not a good judge of character at all. I like to assume the best in people, because I was always horrible in interviews.