I stayed there on and off for two weeks over the summer, and quite frankly I wouldn't want to stay anywhere else in UB.
Eiggy is wonderful. She speaks fluent English and is willing to help with your questions and queries, and is always just a phone call away!
The rooms, if small, are clean and comfortable, all the dorms have a kitchen, a small bathroom and a TV, usually with a big selection of DVDs and books. It is possible to book excursions and, should you want to, taxis from the hostel, and the WiFi is flawless - something you'll be grateful for in Mongolia!
The location is also great: right behind the department store (open until 10 on weekdays to cater to all your needs), which makes it easy to hitch a ride back, as you can just tell them to drop you off there.
One last tip if you're in a dorm: you may not be given a key automatically (fear not, there's always someone in the room to let you in), so if you're going to be out late at night, make sure to ask for one.More