We wanted to experience a traditional hanok so we booked a room for 1 night (and stayed at a regular hotel thereafter) - we weren't too sure about sleeping on the floor, but gotta experience it once right? The ladies in charge of the place were friendly and helpful, and very fluent in English. We had a welcome tea, which was cold and sweet and great for the hot Seoul weather that day. The room we had (103) was lovely with its traditional furnishings and decor, with the giant wall mural of cherry blossoms as the highlight of the room. We also loved the glass wall with the great view of the verandah and garden.
Granted that this is not a 100% traditional hanok as there are modern touches (the toilets, the glass wall and blinds for our room), but the fusion touches makes it more convenient for us modern day folks - i mean do you really want to experience a traditional toilet bowl (or hole in the floor)? We didn't use the aircon or floor heating, but these would be great in summer/winter.
And yes, the location is great for exploring the Bukchon and Samcheongdong area, as well as for visiting the Changdeokgung and Gyeongbokgung palaces.
We came by taxi as we were lugging suitcases, and the driver got lost and went in circles at our cost. The cabbies here don't know every street in the city, partly coz of the confusing street naming system. Best if you get the name and address of the hanok in korean, as well as the phone number. Or get him to drop you off at Gyedong 2 gil and look for #7 yourself (it's not far to lug the luggage). Or get one of those international taxis with cabbies that speak english - the higher cost of these taxis are justified if you consider the lower chances of getting lost.