First, the pros: The hostel is quite clean and, by Chungking Mansion standards, it's practically spotless. It has been renovated recently and it is well maintained. The staff are friendly and helpful. When I let them know I would only be staying for one out of my scheduled 7 nights, they were very helpful and understanding and din't try to rake me over the coals.
Now, the cons: Why did I only stay one night? The rooms are, to be frank, tiny. I booked a single room and I could touch both walls without even stretching my arms all the way and the only sunlight to enter the room was through a small window at the back. It's like sleeping in a closet.
This isn't, however, Apple Hostel's fault. They advertise truthfully and those who know Chungking Mansions probably know what they are getting into. I probably overestimated my comfort level and bit off more than I can chew, but I don't think I can blame them for that...
As far as the complaints about the lifts, the cleanliness of the buildings, the touts asking if you want to buy bags/suits/drugs, this is totally out of Apple Hostel's hands unless they want to move locations. It's Chungking Mansion and even now that it's "cleaned up" it will always be a bit of a cesspit.