Having just upgraded Xcode 4.3 to Xcode 4.4, I get the following errors when running an existing project:
On the simulator: "Cannot run on the selected destination. The selected destination does not support the architecture for which the selected software is built. Switch to a destination that supports that architecture in order to run the selected software."
On the device: "Xcode cannot run using the selected device. Choose a destination with a supported architecture in order to run on this device."
The funny this is, the project ran on Xcode 4.4 and the simulator for the first couple of runs and then stopped working. Have tried restarting but not reinstalling just yet, as Xcode is quite a big application and if it's just a settings problem then I don't really want to download it again from scratch.
Notes: Base SDK is Latest iOS (iOS 5.1), I'm on Lion (not Mountain Lion just yet) and my Deployment Target is iOS 4.0.
I had this problem and it turned out to be a spelling mistake in the product name in the build settings. Check all you product references are consistent in the settings and plists. Also check the product name does not contain a space or other "illegal" characters; this also causes the same error