I am a product of Guilford's schools, and I would say the chief importance of elementary school selection is that the group of kids form a kind of "neighborhood identity" that remains a social influence through high school. The elementary school zoning in Guilford divides the area south of Route 1 (plus a little north) into 2 zones for A.W. Cox and Calvin Leete and then a larger geographical area covering the rest of the town (less population density) is divided into 2 more zones for Guilford Lakes and Melissa Jones. The Cox and Leete districts are people living near the town center or near the water, and the Lakes and Jones districts are people living more towards the geographical center (let's call it moderately wooded) or the northern end of Guilford (beautiful rolling hills, lakes and farm land). To some degree, the kids and families in these districts are shaped by the land they live on.
Guilford is about 50 square miles, and you can drive 20 minutes in a straight line from Sachem Head (a beach neighborhood) to Bluff Head (northern end with highest elevation) and still be in Guilford. So yes, there are many options and many kinds of folks... None of the schools would be a wrong choice, and I've always found the individual teacher to be most important. However, in your case, I think you should just pick a neighborhood you like. I'm not sure what the rental market is like, but that could constrain your options, as well.