This is an unbelievable hostel. I only stayed for one night but checked out the amenities, and you couldn't do wrong booking here.
The "pods" have curtains, private lighting, and a charging facility and the dorm has dim motion lighting for nighttime, which was really helpful as I had to get up at 4am and didn't want to turn on a bright light and wake everyone!
The dorm was quiet, I saw that there were rules about noise after 9pm so that was good, and the shower room had individual shower cubicles which looked nice and clean, and plenty of them.
As for the location, this is ON the ROYAL MILE (!!!), next to St Giles Cathedral so really you couldn't get more central in Edinburgh.
I wasn't interested in the socialising side of the hostel as I was just on a stopover but they were running a Haggis Night Dinner which they invited me to, so definitely seem to host social events.
This is a great price for what you get, I'd stay again and I've paid more for much less in previous hostels!