O! The stories I could tell - about me! Lol. Seeing as I started DMing at 11 for my little brother (10), I have to admit I had some bad moments. Luckily my mom was always there to set me straight (usually by grounding).
You may think I'm kidding, but it's true. Anyway, as weird (and sometimes unfair) as it was, I have learned many lessons about DMing and have been at it ever since (17 years later).
I think there is nothing wrong with players reading the DM guide. For me, it helps to play with educated players, but I do let any new players know that I do not tolerate rules lawyers.
My brother is a rules lawyer and I have recently started playing in his campaign world. All of the other players except one are new to DnD and playing with him is like going through DnD boot camp! I feel so sorry for them. Besides being a freak about the rules he is a good DM, so I don't mind really.
Any way, I am enjoying reading the DM horror stories.