As far as the skin test went, I think youve got the bumpiness looking real good. Now, going a bit technical I would say that for an underwater scene, I would lower the specular level a bit, but keep it the same for a scene where the squid (or parts of it) are above water. You know, when everythings underwater, its not as shiny as it is when its in air with a thin film of water over it. Again, Im just getting technical, and maybe overly so.
As far as the suckers go, I say go for what you like more. BTW, the front-on shot looks very menacing