I stayed here for 2 nights with a school group of 40 students and 7 teachers/parents. The hostel was clean and comfortable, with a nice bathroom. We also had our meals provided for us at the hostel which were very nice. The views from the balcony over Circular Quay, Harbour Bridge and the Opera House were amazing. There were plenty of places to eat out, within walking distance, and easy access to all that is provided around Circular Quay, ie. ferries.
I would definitely stay here again when I come to Sydney again.