I liked the hostel. I will start out by saying we went to sleep after midnight every night, so it was usually quiet. The bar was great when we wanted to hang out and get a free pint. We even met some great people from different parts of Italy and had a great time with them. The staff it great and friendly. They live in the hostel so they care about it! It was a bit far from central London (about a hour), but it is very easy to get there with the bus system. If I had to go to London again, I could see myself staying here.
Bed bugs, sheets not washed in years, cheap for the money, good party atmosphere. Honestly, its up to you if you are willing to sacrifice hygiene and cleanliness for a good social scene and save some money.