We stayed here in October 2011 and had a wonderful time. As we were arriving quite late at night we booked the rooms through their website. We had asked for balcony rooms but they told us they couldn't guarantee this so we would have to wait until we checked in. On arrival we were shown to our rooms which were balcony rooms which surprised me as I didn't mention this at check in. This request was made several months earlier.
The guesthouse is located in Rambuttri Village which is far nicer than staying on Khao San Road. It's quieter and much more laid back but only a 5 minute stroll to KSR. The rooms at New Siam 3 are basic but comfortable. The shower has great pressure and the beds are comfy too. This is not a 5 star hotel and doesn't pretend to be. If you want comfort and be in a great location then stay here. I will stay here again on my next visit to Bangkok.More