I have saved some screenshots in the iPhone Simulator running iOS 5, but I can\'t find them.
I had this problem before, and it took me frickin\' ages to find them i
I find a very useful way to find them is to use the spotlight search shortcut CMD+Space then enter the text "screen shot" or "ios simulator screen shot"
If it's not in the initial search screen, you can always use the Show All In Finder option that's first in the list
Not only does this work first time, every time, but it also reminds me when I've forgotten where I've moved previous screen shots to :)