I\'m having some issues with the iPhone simulators after upgrading to Lion and XCode 4.1. When I launch the simulator for 4.0, 4.1 or 4.2 (which I restored from Time Machine
The answer to your problem lies in what you have written: (which I restored from Time Machine).
You are using a restored version of the Simulator that do not match your Xcode 4.1 installation.
Using any Simulator not part of the installed SDK is done at your own risk.