It appears that we can - theoretically - build a single static library that includes both simulator and iPhone and iPad.
However, Apple has no documentation on this
Great job! I hacked together something similar, but had to run it separately. Having it just be part of the build process makes it so much simpler.
One item of note. I noticed that it doesn't copy over any of the include files that you mark as public. I've adapted what I had in my script to yours and it works fairly well. Paste the following to the end of your script.
if [ -d "${CURRENTCONFIG_DEVICE_DIR}/usr/local/include" ]
then
mkdir -p "${CURRENTCONFIG_UNIVERSAL_DIR}/usr/local/include"
cp "${CURRENTCONFIG_DEVICE_DIR}"/usr/local/include/* "${CURRENTCONFIG_UNIVERSAL_DIR}/usr/local/include"
fi