XCode 4.5 (4G182) + iPhone 5 iOS6 - Choose a destination with a supported architecture in order to run on this device

Question

So I have a brand new app I created last night for iOS6, using XCode 4.5. I can properly develop on my iPhone 4 with iOS6.

Today I got my new iPhone 5 with iOS6 and,

Answer 1

One of my 3rd party libraries couldn't run on armv7s so I removed that option. I also removed armv6 and kept armv7 as the only option. It built and ran on the phone with only armv7.