Hi Harverty I have had the same problem but with the airport extreme... It's basically because it's an "n" router geared up for new wireless devices i believe. My iphone strangly isn't one of them nor the new PS3 ...!!
The settings below worked on my new Apple extreme to get iphone & PS3 to link BUT the downside is the connection speed gradually got slower and slower on everything.... Switch back my to normal settings on extreme mac and other devices rock at super speed - but iphone and ps3 although they see both main and guest can't connect again....
Go to Wireless
Radio Mode: choose 802.11a/n - 802.11g
Radio Channel Selection - Manual
click EDIT: chose manually the channels, 48 (5 Ghz) and channel 5 (2,4 Ghz).
Choose WPA/WPA2 Personal as security settings.
I wish I had my old router back with it's old technology as everything work perfectly fine on it for years till it died....