Sidewall pressure is max load at max pressure and not run all the time pressure.
If your load doesn't change much, or you're willing to adjust as necessary, there are load/inflation tables published so the proper pressure can be ran for the load.
My normal weight is 5200/3400 and based on the load/inflation tables I should run 55/35. I find the fronts need a little more air to be stable while cornering and run 60-65 most the time.
One of the drawbacks to running 19.5's, which I do in the summer, is that they have a minimum pressure regardless of weight. I only need about 50 psi in them, when empty, but can't go below 70 for sidewall flex and bead issues.
Back to the original question, no I don't feel lower tire pressure will negatively effect suspension components and I actually think it will increase the life of them since they don't have as harsh of a ride.
Everyone always talks about the impacts of running under-inflated but very few talk about the issues of running over-inflated. Over-inflated tires causes a harsher ride, increased susceptibility to road hazards, decreased traction (acceleration/braking/lateral), and improper tire wear.