The guide itself was definitely being read. I built it directly into the app, so users could only advance the guide by completing the step described (like, they'd have to actually create a new contact before the guide would advance). A surprisingly high number of people completed the entire thing (~45% if I remember correctly) but very few of those people seemed to actually retain anything. We received way more support requests, and the conversion from trial to paying customers decreased (relative to just showing a video).
I don't mean to suggest that interactive tutorials can't ever work, but they were a huge failure for me. The only upside was that several people contacted us specifically to mention how awesome they thought the tutorial was. However, most of those people seemed to be other software developers that were interested in doing something similar. They didn't seem to actually be any more likely to subscribe.