i was getting build failed, i followed the video about missing sdk, did as explained but am still getting error: deleted, renamed and downloaded the zip file again and again, the error: can't exec '/Developer/Platforms/iPhoneSimulator.platform/Developer/usr/bin/gcc-4.2' (No such file or directory) i manually followed the above path and it is true there is no such file or directory there. any ideas how to go about it?

Hmm...strange. It's not going to be related to the project you downloaded, it's an Xcode / build settings thing. What .SDK did you choose in the build settings when you clicked Build. Maybe choose a different base sdk and see what happens. You should have a 4.3 in the list. Try that. Not sure why your machine doesn't have the necessary files for 4.2. Very strange.

agree, strange, what is more, i discovered, when i try to follow the path to find the file manually, i go into the folder an the file is not there. however, when i type the name of missing file in finder, it throws me directly to the same directory and the file is there. seems there are a lot more files there when i am directed there by finder as opposed to when i go there folder by folder from my root folder on my mac hard drive. build settings, i tried variations of 4.2 4.3 , no option would work. i think i will just reinstall xcode. maybe this will help.