[Update:] As the comments below point out, newer MS GUIDs are V4 and do not use the MAC address as part of the GUID generation (I haven't seen any indication of a V5 implementation from MS though, so if anyone has a link confirming that let me know). WIth V4 though, time is still a factor though, and the odds against duplication of GUIDs remains so small as to be irrelevant for any practical usage. You certainly would not be likely to ever generate a duplicate GUID from just a single system test such as the OP was trying to do.
Most of these answers are missing one vital point about Microsoft's GUID implementation. The first part of the GUID is based on a timestamp and another part is based on the MAC address of the network card (or a random number if no NIC is installed).
If I understand this correctly, it means that the only reliable way to duplicate a GUID would be to run simultainous GUID generations on multiple machines where the MAC addresses were the same AND where the clocks on both systems were at the same exact time when the generation occured (the timestamp is based on milliseconds if I understand it correctly).... even then there are a lot of other bits in the number that are random, so the odds are still vanishingly small.
For all practical purposes the GUIDs are universally unique.
There is a pretty good description of the MS GUID over at "The Old New Thing" blog
