I understand that you can suspend payments (assuming you are at/past full retirement age) and then accrue the regular increase (roughly 8%) per year until you restart (up to age 70).

Has anyone done that? I'm assuming that your new payment when you restart will be based on your original start age plus the number of years that were suspended? So if you started at 63, suspended at 67, then restarted at 70, your new payment would be based on age 66? (63 plus three years suspended)