I recently spent 10 nights at Banyan. Being half way up Mitchell Street it is much quieter than the main stream backpackers. The Lodge is in a good position being within easy walking distance of town and having bus stop outside, as well as backing onto forest. My single room was basic, but the fridge, air conditioner and fan all worked. Kitchen facilities were adequate as was the pool. The place is a little run down in some aspects, and the cleaning lacked in some areas, though this seemed to have as much to do with who was staying there at the time. Yes there are a lot of rules written everywhere but having seen some of the mess some guests left it's no wonder.
The staff were, in general, friendly and helpful and I enjoyed my stay.
Maybe not the cheapest or most exciting place to stay, but I would go back.