Microsuede will hide a lot of spills and dirt, I'm not sure about cat claws, tho.

Agreed, microsuede is a great choice. Our cats have roughed up the microsuede sofa in the family room. I notice it, but it's not nearly as obvious as what cat claws can do to other, less durable upholstery fabrics. Stands up well to teenager abuse, too.

Microsuede it shall be.
and any suggestions about color, please? I'm torn between the obvious cream/whites (but awful for dirt/spills) and something bolder like reds or browns. Unfortunately, one of the cats is an albino longhair who sheds like there's no tomorrow.

I don't have a cat but I have a dog who sheds like crazy too. We have medium brown microsuede sofas. Vacuuming doesn't pick up all the dog hair; I have a sticky roller that gets the rest. You could try that. If you have an albino longhair and don't want creams/whites, can you keep the cat off the sofa? Probably the fur would fly anyway. I would invest in a sticky roller with a long handle!

Oh, well, I just went contrarian and ordered the attached sofa from Macy's online!