To consolidate the points made so far (and add one #11...and to have a little fun by making an anti-list):
Good GM Rules
1. "Have fun," rule #1 for GM and players alike.
2. Listen to your players so you know how to let them have fun.
3. Be flexible/learn to improvise for when the players go in unexpected directions.
4. Be willing to admit when you make a mistake, and correct it in an expedient manner.
5. Say yes to your players more than you say no, but don't be afraid to say no if you're being taken advantage of.
6. Define the overarching campaign theme/motif/style so everyone's on board.
7. Create a loose (GM-only) plot framework for overarching story-lines you want to include.
8. Be familiar with the adventure (NPCs, Tests for key info, plot points) wither pre-generated or home-brewed.
9. Take Notes (part I): About what your players ask about and what they have their characters do.
10. Take Notes (part II): About NPCs met, places visited, etc., especially if/when you make them up on the fly.
11. For new players create rules-themed sessions; "This is how AR works" night, "this is combat" night, etc.
Anti-GM Rules (AKA What not to do)
1. "Have fun," at the expense of those idiots on the other side of the screen.
2. Shut your players up, preferably by killing their characters that they spent the last month working on.
3. GM with a Chrome Fist, railroad those bastards into your preplanned ideal version of the perfect game.
4. You are never wrong. Weakness is for the weak.
5. Player's don't know what's good for them, you do. Tell them no, often and with authority.
6. Wildly shift from serious to silly in every scene, play with your players minds.
7. Create a tight plot for your campaign, see #3.
8. Only read the back text of the adventure book and the stats of the most powerful NPCs, use those as your standards, make everything else up.
9. Taking notes (part I) kills trees...so just take notes on how often you make your players cry and try to kill trees.
10. Taking notes (part II) See #9.
11. For new players throw them in a wild AR filled combat in the depth of a metaplanar equivalent of a VR representation of a space station zero-zone.