You'd think you were in an Ikea showroom when you first walk into one of the rooms at Bunk. Posh, minimalistic and modern, you walk across a shiny hardwood floor to get to your grey steel bed, complete with colorful bedding to match the curtains. Bunk looks like a project in interior design, rather than hosteling. The ensuite (!) bathroom and shower are modern and tasteful as well.
Unfortunately, other than the travel desk and pay-as-you-go internet, the rest of Bunk is a rather un-hostel-like experience as well. While the amenities are nice, it seems the place's main business is the downstairs bar, Birdee Num Num, which is open to the public and other than some drink and meal specials doesn't seem to cater to the interests of backpackers. The whole place takes on the feel of a hotel and bar with shared rooms. Even with the pool tables and (woot!) pool at the bar area, the setup makes it very difficult for solo travelers to connect - I found this to be an issue with many places in Brisbane, as the city seems to serve more as a stopping point for east coast travelers, not as a destination.
What Bunk does have going for it is its location in Fortitude Valley, about 15 min. west of the central business district. The Valley is the true nightlife hub of Brisbane, full of great bars, nightclubs, cafes, etc. and it's the heartbeat of the up and coming scene in Brissie. It's also home to Chinatown, so there are lots of good, cheap eats available as well.
Recommendation: Great if you're traveling with other people, kinda crap for solo travelers. Proximity to nightlife is good, providing you meet people to go out to the places with.