GNOME Bugzilla – Bug 651598
[power] sleep button behavior is not reflected correctly
Last modified: 2011-09-06 12:39:34 UTC
Version: control-center-3.0.1.1-5.fc15.x86_64 In the Power control, "When the sleep button is pressed" reads "Hibernate", but system actually suspends when the sleep button is pressed.
This should be fixed in the new gnome-settings-daemon for GNOME 3.2. Let us know if that's not the case.
This particular preference is gone from the UI, but the setting is still present and it should work as expected in GNOME 3.2. Please reopen if not.