A great little place, it feels more like staying over at a friend's place than staying in a hostel. Great location, and very friendly/helpful staff.
Sir Toby's is awesome! It's a little ways outside of downtown Prague, but still close enough for it to be quite easy to get in and out of the city. The staff are wonderful, especially Ivana, one of the bartenders :). My only complaint was that in one shower, there was no partition between the shower and the rest of the room, so the water from the shower would run across the washroom.
Overall a very good time, though we always slept in too late to make use of the breakfast. Only minor complaint was that the power outlet in our bathroom was dead.