The iPhone could not be restored. An unknown error occurred (14). [Help me]

This might help: http://support.apple.com/kb/TS2380

Not the identical error, but it makes sense. So close the Genius bar, close iTunes, temporarily turn off your antivirus and firewall, open iTunes and try again.

I just had the same problem at least a half hour ago! I re-tired everything at least 3 times then it complete wipped my phone out!! THEN I got it to ask for restore from my last session only for it to not work again! Its very frusterating now phone is starting over from scratch which worries me all the time thinking everying wont be there when its done. This new software to me was more of a problem then fixing the problems. I tried to work on my friends new ipod touch she got and this update did the same exact thing to her ipod touch we had to take it back she didnt even have it for a day!!

Here is the general troubleshooting guide to restore problems:

http://support.apple.com/kb/TS1275

Here is a general help article: http://support.apple.com/kb/TS1275?viewlocale=en_US

But a few basics to check:

1. Make sure the phone is fully charged.

2. Make sure it is connected to a USB 2 port on the BACK of the computer, not on the front.

3. Do not connect through a hub.

4. Disconnect all power-hungry USB devices (keyboard and mouse are OK).

Then try again. This time chose "download only", then after it is downloaded choose "Restore" a 2nd time.

I've seen this discussed in the past and others have mentioned to temporarily disable your anti virus or firewall. Do a search for unknown error 14 and see what comes up.