If you're looking for a cheap, effecient, short-term stay, and great location this is it. The staff were incredibly friendly and accommodating. The location is right in the middle of great sight seeing and lovely restaurants.
If you're looking for a party hostel this isn't the place (from my experience.) It's more of a place to sleep then drive or fly out early the next morning IMO. From what I hear, this is the case with most hostels in London.