I have a strange problem.
I have an iPad with iOS 5.0.1 (9A405) and iOS SDK 5.0.1 with Xcode 4.2 (Build 4C199) installed on my Mac.
Xcode doesn\'t see my dev
I just barely tried every solution suggested above. The only thing that worked and resolved my issue was to go into xcode's "Organizer", right click on my iPhone, click on "Remove from organizer" and then wait about 10 seconds while xcode automatically re-added the device.
I previously plugged in my phone and itunes recognized it fine and synced with it, etc, but all xcode said in the organizer was "Device is not currently connected", which it was most definitely connected if itunes was syncing with it and not syncing over wi-fi.
Why xcode needed me to delete and re-add the phone is beyond me, but it works great now that I did this.