Emma's "room above the pub" was perfect for our group of three. Having three separate beds and two bathrooms meant we were never in each other's way (we never ended up seeing any of the other tenants using the restrooms when we needed them either). The location really can't be beat for the price. It's only a block from a Bakerloo line stop, which will take you up into Picadilly Circus and transfers to anywhere else in town plus the airport. It's only a 15 minute walk over into Westminster, as well. We were able to check-in a little early, which was awesome to drop our bags off prior to exploring the city.
We were staying over a weekend, so there was a little noise from the pub crowd, but nothing that some white noise or ear plugs weren't able to handle. Are you really not going to be pubbing it up during your nights in London anyway? ;)
I would absolutely recommend Emma's place for anybody who needs 2 or three separate beds at a great price in the middle of everything London has to offer!