I've done all of the above. I like hostels when I'm alone or traveling with another friend. Great way to meet other people, be social etc. luckily there are all types of hostels depending on your need - women only, party hostels, more luxurious private ones. But I also like couchsurfing for places that can be remote or don't have decent hostel/hotel options (like Scandinavia, Alaska). Most of my experiences there have been above and beyond just a place to stay. They were more welcoming - like a long lost relative. Had a stranger not only pick me up and drop me off at the airport very late at night/early morning hours but also gave me a tour of his city. I've only used airbnb once on a last minute trip to Oktoberfest in Munich when hotel and hostel options were out of the question. It was great value in a central location for a last minute stay. I'd use any one of the above options again if cash and points options ever fail me