I have installed the new Xcode 4.2 and added Iphone Simulator 3 and 4 in Xcode-Preferences-Downloads-Components
Create new project and set IOS target SDK - 3.0.
And I don't see an option to build for "iPhone 3 Simulator" and "iPad 3 Simulator", but i see an option to build for "iPhone 4.3 Simulator" and "iPad 4.3 Simulator".
Is there something else I have to do?