OK, I'll admit it. I use the Entertainment Book when choosing restaurants and once those two-fers are gone I wait until next year to go back. I've never used the Michelin Guide or even Zagat's. Maybe someone can tell me if they're worth the investment.
Anyway, the Michelin Guide came to the Bay Area and here is an article from the SF Chronicle discussing the results: Bay Area stars fail to make Michelin cut French Laundry is lone restaurant to win top rating in guide's S.F. edition.
By the way, although not necessarily gourmet, my favorite restaurants in the area are 1) the Al-Masri on 40th and Balboa in San Francisco ... great atmosphere, decent Egyptian food, and the best and classiest belly dancing in the state and 2) Grissini's in the Concord Hilton. This is a little known gem with reasonable prices and great polenta.