We stayed here for an overnight in Amsterdam, while traveling... and it was such a wonderful experience. You wake up along the canal and watching the drawbridge pull up throughout the day... and then you're just a couple steps from a number of coffee shops and restaurants (not to mention the Vondelpark!). In our case, we stayed on a Friday night and did not run into any noise issues, so we did not find the need to use the earplugs that are provided to all guests.
We would stay here again in a heartbeat.