I stayed in the chick dorm which is separate to the rest of the hostel rooms. You have to exit the actual bar/hostel and walk next door. No hassle, except that I couldn't get in for breakfast and no one answered the door bell so I had to wait for people to exit.
As with most Amsterdamage hostels, there's no common room here, only a bar which hosts many a passing pub crawl. It felt like many people were travelling in packs and keeping to themselves - not so cool for the solo travellers.
All in all, it served its main purpose as a hostel for me as I was lucky to meet wonderful dorm room buddies to share the crazy city with and it was in prime location for the typical Amsterdam experience. Way noisy at night, but if you're out partying it won't matter. Hence, good for the partier (me!), but not so good for the museum enthusiast who wants to sleep (not me!).
The hostel is only about five or so minutes stroll from Centraal Station (but then add five more for the time it takes to dodge waves of tourists). It's a quick stroll around the corner to the Red Light District (just a few minutes away); a short walk to Rembrandtplein and about twenty minutes walk to Leidseplein and Vondelpark.
In future, I would only stay again if I was travelling with people. If I'm solo again, I'll go elsewhere to seek new experiences and a more solo friendly hostel.
Oh, and a dude pops by briefly each morning to recruit walking tourers - he's easy to miss though so if you do miss him you can just head to Dam Square and join there, like I did.