I stayed in a shared room (max 8 people), which was the first time I'd done that anywhere, so I was a little nervous before. It turned out to be a good idea, saved a lot of money, and I got to meet some nice people. Not very private, of course, so whether you'll like it depends on your need for privacy.
The room wasn't full, there were only about 4 there at a time. There were 2 bathrooms, each with a shower, so I never had to wait. Bring a lock, they have lockers for your valuables. Also, bring shampoo and soap (but they will provide those if you don't have them.) Bunk beds are somewhat tight but fine for me, I'm about 5'11", a taller person might think the beds are a little too short.
The staff were super nice. It's a very old hotel, but clean, lots of charm. The lobby is amazing and beautiful.