Great guide. (iFixit always has the best repair/replace manuals so no surprise there.) Took me a while longer than an hour, but that's because I'm slow AND I was taking my time. The photos are almost entirely exhaustive, so it's pretty easy to follow along. Could use photos with slightly different angles on Steps 22&23, just to see better what all those little connectors are supposed to look like when lined up properly. But overall, A+ excellent. First time I've replaced a screen, though I've been this deep into the phone before for other parts, but the replacement (also purchased thru iFixit) works great now. So much nicer having a screen I can SEE instead of all those messed-up cracks and lines and dead spots.
This screw was also extremely rusty on my unit - so much so that it never came loose. I tried every angle and position but it just kept stripping out the Phillips head. Needless to say, I didn't actually get the home button replaced, because I could never get the screen off. But by doing all the steps up until this, I was able to get everything loose enough to check the home button connections, clean stuff up, wiggle things around a little, and get said button working properly again.
But yeah, apparently this area IS prone to water/rust. I know my iPhone's gotten wet-ish before, so I guess it made it in here enough to rust out the screw. As Dave said, ye be warned.