the Ploenchit HI is fine, and well-located for many, in shopping-mall heaven. But it's just a little bland and the lounge there is a feeble effort compared to Silom.
The Silom HI is in a much more interesting part of Bangkok. The basic rooms are not inspiring, but the ones in the main tower are just fine. The lounge is pretty lush for a HI, serves interesting food: it is well-staffed and has terrific views.