Another no do homework .....
Ebisu & Meguro Station is part of Yamanote Line.  Sure is good to travel around Tokyo.

Since you are on holiday, is it important if Meguro is a nice place to stay? If ease of transportation and you need to be in the "action" quickly is what you want, of course Shibuya/Shinjuku is a better place to stay. You can just walk out of your hotel and spend whole day in Shinjuku or Shibuya. As for meguro, not much to see, so you will need to go take the train. Tokyo is pretty much very convenient in whatever place you stay as its pretty much connected by bus/metro/train. Just that the further away you stay from the tourist place, you need to pay more for transportion