The app works fine in the simulator, builds and runs.
When I attach my device (iPhone 3GS running iOS 4.3) and target the iPhone, the result is \"Build failed\" with
I had the same problem, and like someone else suggested it had to do with the bundle identifier. I had recently changed it, as a test, and had put an asterisk in it. I fixed that, and had to clean the target, and then it worked.