Room is Rp450 and dorm bed is Rp200 per bed. 

Bad:
By reading the lonely planet guidebook and previous travelers review made me can't wait to be in Lahore, unfortunately the whole thing turn out to be very disappointed and is the worst place I slept in Pakistan.  Can't believe that is lonelyplanet's "our pick".  Dirty carpet, dirty toilet, dirty kitchen, dirty room, cramped place (occupied 2nd and 3rd floor of a shop) and unchanged bed liner for everyone! Imagine everyone sleep with sweat in summer !! No power backup and power outbreak few times a day, it is hot at night without a fan during the summer. Please DO NOT leave your wallet in the room.

Good:
Cheap bed, free freezing filter water, small kitchen to use,free  washing machine (half automatic), good location (KFC and Subway is on the left and a supermarket and some street food on the right) and Internet service (Rp40 per hr and Rp200 for 24 hrs wifi unlimited excess).

This is not a hotel - it's a place for travellers to sleep and meet. Malik was very interesting to talk to and a very welcoming host and there were many interesting people to chat too. The double bed afforded a good night's sleep and the place was buzzing with people travelling through Pakistan, India and around the world. There were a couple of shared bathrooms on the top floor and a kitchen for the use of guests. Food Street was a ten minute walk away and the Holiday Inn for takeaway beer (and gin for the host) was a fifteen minute walk away (but the beer's awful!).

Regrettably we only had two nights here before returning to India - more time in Pakistan and more time at the Regale Internet Inn would have been excellent.

If you look at the scores I gave this hostel, you wouldn't think I'd recommend it. But in fact I do! Everyone who's been to Pakistan (and that aren't that many at the moment) have told us about this hostel. So if you like to share stories about how you managed to receive your visa for Pakistan, this is the place to be.Or if you want to make plans for your ongoing travel (including Iran or India), this is also the place to be.
We came here during our 1,5 year world trip by car and ended up staying 3x longer than we had planned. And it seemed that almost everybody had the same experience. The travellers we met at Regale Internet Inn were very interesting people and we felt like a little family at once. After Lahore we didn't meet other travellers at all. So it was really a nice part of our Pakistan trip.
And oh yeah, Malik is great fun. Especially on Sufi nights on his roof top.

I visited Lahore, Pakistan in August 2007 after travelling by public bus from Peshawar. It was an amazing place but not for everyone. The most notable places in my mind were the "Food Street" mall which had an amazing variety of shops and restaurants, the RED MOSQUE and LAHORE FORT. Also NOT TO BE MISSED is a trip to the India-Pakistan Border Crossing at Wagha where you can watch the famous "SUNSET GATE CLOSING CEREMONY". Admittedly I stayed in the dirt cheapest "hostel" called the "Regale Internet Inn" that I could find for 120 Pak Rupees (US$2) per night which amounted to nothing more than a bunch of cots in a stuffy third floor room but at least they had low-speed internet access. I really enjoyed exploring the run-down neighbourhoods and seeing how the people lived and talking to them about their political views. I am Asian (Chinese) so the locals had no pre-conceptions about me. At the hostel I did meet some daring white caucasian travellers, some of whom claimed to be "Canadian" but were really Americans incognito. HOWEVER I DID WITNESS A WHITE MALE AMERICAN TOURIST GET surrounded in a public place by a curious but somewhat irate crowd of locals although he was allowed to leave unharmed. I distinctly heard them tell him "You tell your President Bush we are not terrorists!" as if he was some kind of ambasaddor.