Scott,
You should probably go through the guides and cut out any of the pictures first so you can sell them on eBay as "photos" for big money to pay for your binding expenses. The pictures are all anyone wants out of those old guides anyway, or so I'm told by a certain eBay seller.
Just kidding. Having them rebound as hardcovers sounds like a great idea to me, especially if you're referring back to them regularly. As long as "james601" doesn't get ahold of them, it's all good