I had the same issue and turning off SMB, using only AFP for file sharing also worked.
More details:
Error: "connection failed". Verbose error if explicitly connecting to shared folder as Guest: "Access to your account on the server "Laura's iMac" has been denied. Contact your system administrator for more information".
Configuration details:
File sharing between two iMac 27s running 10.9. Both iMacs are on the same network connected to the same router, one using wired ethernet, the other using 802.11ac WiFi. Goal is have a single shared folder on each iMac which Guest can access from the other iMac.
Verified both iMacs can ping each other. Firewall off on both, no anti-virus or other security software in use. On both iMacs, System Preferences -> Users & Groups -> Guest User have both these options enabled:
"Allow guests to log in to this computer"
"Allow guests to connect to shared folders"
Sharing was enabled for the shared folder on each iMac using System Preferences -> Sharing, and the Shared folder on each enabled for read/write access for user "Everyone".
For both iMacs, both SMB and AFP were enabled for folder/file sharing via System Preferences -> Sharing -> Options, and selecting "Share files and folders using SMB" and also "Share files and folders using AFP".
In my situation, accessing the shared folder as Guest from one iMac worked, but from the other iMac it failed with the above errors. Why it worked one direction and not the other, I don't know.
Note this was a connection failure due to an account problem, not a permissions problem for specific files.
Accessing files on the other iMac via SMB was still possible IF connecting as a registered user on that machine. IOW from the client iMac, in Finder click the target iMac name, then the "Connect As" button, select "Registered User", and provide a valid username/login for that target iMac.
However this should not be necessary. The very reason for granting Guest access to selected folders is to avoid messing with accounts.
Disabling folder/file sharing via SMB in System Preferences -> Sharing fixed the problem.
I reported this to Apple support and asked them to document this. The first and second level support tech I spoke to were unware of the problem and it was not listed in their internal knowledgebase.
Note this does not mean you're globally disabling the SMB protocol, only restricting file sharing of certain folders to AFP. E.g, you could still use SMB and print to a shared Windows printer or access shared files on a Windows PC via SMB.
This is a significant problem and lies in a common path of frequently used activities. I am shocked it is not already well documented or (if a bug) fixed.