iPhone Unity Simulator Crashes

So the unity app compiles fine, boots up xcode and everything seems to go about right. I am using the penelope project. But, when it starts up xcode and the simulator, as it starts up the app, I see the Unity3d Splash Screen then it crashes.

Any advice to why it crashes?

The below is what's inside of the console.

[Session started at 2011-03-30 15:27:16 -0700.]
2011-03-30 15:27:23.604 Penelope[3224:207] -> registered mono modules
-> applicationDidFinishLaunching()
GL_OES_depth_texture GL_OES_depth24 GL_OES_fbo_render_mipmap GL_OES_mapbuffer GL_OES_packed_depth_stencil GL_OES_rgb8_rgba8 GL_OES_texture_float GL_OES_texture_half_float GL_OES_vertex_array_object GL_EXT_blend_minmax GL_EXT_discard_framebuffer GL_EXT_read_format_bgra GL_EXT_shader_texture_lod GL_EXT_texture_filter_anisotropic GL_APPLE_framebuffer_multisample GL_APPLE_rgb_422 GL_APPLE_texture_format_BGRA8888 GL_APPLE_texture_max_level GL_IMG_read_format GL_IMG_texture_compression_pvrtc 
Creating OpenGLES2.0 graphics device
Non platform assembly: data-0xcf95000 (this message is harmless)
Non platform assembly: data-0x884a200 (this message is harmless)
Platform assembly: /Users/???????/Library/Application Support/iPhone Simulator/4.3/Applications/7A7F8522-C18A-430A-9E81-49119CFA9924/Penelope.app/Data/Managed/UnityScript.Lang.dll (this message is harmless)
Platform assembly: /Users/???????/Library/Application Support/iPhone Simulator/4.3/Applications/7A7F8522-C18A-430A-9E81-49119CFA9924/Penelope.app/Data/Managed/Boo.Lang.dll (this message is harmless)
LLVM ERROR: Cannot yet select: 0x907f290: v2i64 = bit_convert 0x907fc20 [ID=62]
  0x907fc20: v4i32 = llvm.x86.sse2.pslli.d 0x91075e0, 0x9107778, 0x91074d0 [ORD=56] [ID=59]
    0x91075e0: i32 = Constant<677> [ORD=55] [ID=7]
    0x9107778: v4i32 = bit_convert 0x9108998 [ORD=53] [ID=56]
      0x9108998: v4f32 = X86ISD::MOVHLPS 0x9108f70, 0x9108c40 [ID=52]
        0x9108f70: v4f32 = X86ISD::UNPCKHPS 0x907f208, 0x9108008 [ID=48]
          0x907f208: v4f32 = bit_convert 0x91073c0 [ORD=41] [ID=44]
            0x91073c0: v8i16 = X86ISD::PUNPCKLWD 0x9109090, 0x907fb10 [ID=40]
              0x9109090: v8i16 = bit_convert 0x9080060 [ORD=33] [ID=36]
                0x9080060: v16i8 = X86ISD::PUNPCKHBW 0x907fdb8, 0x9108778 [ID=34]
                  0x907fdb8: v16i8 = bit_convert 0x907ff50 [ID=28]
                    0x907ff50: v2i64,ch = load 0x65bc004, 0x9107558, 0x9108668<LD16[%32]> [ID=22]
                      0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                      0x9107558: i32,ch = CopyFromReg 0x65bc004, 0x9108d50 [ORD=26] [ID=18]
                        0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                        0x9108d50: i32 = Register %reg16396 [ORD=26] [ID=1]
                      0x9108668: i32 = undef [ORD=28] [ID=3]
                  0x9108778: v16i8 = bit_convert 0x9107118 [ID=27]
                    0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
              0x907fb10: v8i16 = bit_convert 0x9107118 [ID=26]
                0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
          0x9108008: v4f32 = bit_convert 0x9107448 [ORD=42] [ID=43]
            0x9107448: v8i16 = X86ISD::PUNPCKHWD 0x9109090, 0x907fb10 [ID=39]
              0x9109090: v8i16 = bit_convert 0x9080060 [ORD=33] [ID=36]
                0x9080060: v16i8 = X86ISD::PUNPCKHBW 0x907fdb8, 0x9108778 [ID=34]
                  0x907fdb8: v16i8 = bit_convert 0x907ff50 [ID=28]
                    0x907ff50: v2i64,ch = load 0x65bc004, 0x9107558, 0x9108668<LD16[%32]> [ID=22]
                      0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                      0x9107558: i32,ch = CopyFromReg 0x65bc004, 0x9108d50 [ORD=26] [ID=18]
                        0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                        0x9108d50: i32 = Register %reg16396 [ORD=26] [ID=1]
                      0x9108668: i32 = undef [ORD=28] [ID=3]
                  0x9108778: v16i8 = bit_convert 0x9107118 [ID=27]
                    0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
              0x907fb10: v8i16 = bit_convert 0x9107118 [ID=26]
                0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
        0x9108c40: v4f32 = X86ISD::UNPCKHPS 0x9108558, 0x91084d0 [ID=46]
          0x9108558: v4f32 = bit_convert 0x9107888 [ORD=39] [ID=42]
            0x9107888: v8i16 = X86ISD::PUNPCKLWD 0x9108e60, 0x907fb10 [ID=38]
              0x9108e60: v8i16 = bit_convert 0x907fa00 [ORD=36] [ID=35]
                0x907fa00: v16i8 = X86ISD::PUNPCKLBW 0x907fdb8, 0x9108778 [ID=33]
                  0x907fdb8: v16i8 = bit_convert 0x907ff50 [ID=28]
                    0x907ff50: v2i64,ch = load 0x65bc004, 0x9107558, 0x9108668<LD16[%32]> [ID=22]
                      0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                      0x9107558: i32,ch = CopyFromReg 0x65bc004, 0x9108d50 [ORD=26] [ID=18]
                        0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                        0x9108d50: i32 = Register %reg16396 [ORD=26] [ID=1]
                      0x9108668: i32 = undef [ORD=28] [ID=3]
                  0x9108778: v16i8 = bit_convert 0x9107118 [ID=27]
                    0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
              0x907fb10: v8i16 = bit_convert 0x9107118 [ID=26]
                0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
          0x91084d0: v4f32 = bit_convert 0x9107910 [ORD=40] [ID=41]
            0x9107910: v8i16 = X86ISD::PUNPCKHWD 0x9108e60, 0x907fb10 [ID=37]
              0x9108e60: v8i16 = bit_convert 0x907fa00 [ORD=36] [ID=35]
                0x907fa00: v16i8 = X86ISD::PUNPCKLBW 0x907fdb8, 0x9108778 [ID=33]
                  0x907fdb8: v16i8 = bit_convert 0x907ff50 [ID=28]
                    0x907ff50: v2i64,ch = load 0x65bc004, 0x9107558, 0x9108668<LD16[%32]> [ID=22]
                      0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                      0x9107558: i32,ch = CopyFromReg 0x65bc004, 0x9108d50 [ORD=26] [ID=18]
                        0x65bc004: ch = EntryToken [ORD=26] [ID=0]
                        0x9108d50: i32 = Register %reg16396 [ORD=26] [ID=1]
                      0x9108668: i32 = undef [ORD=28] [ID=3]
                  0x9108778: v16i8 = bit_convert 0x9107118 [ID=27]
                    0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
                      0x907fd30: i32 = TargetConstant<0> [ID=17]
              0x907fb10: v8i16 = bit_convert 0x9107118 [ID=26]
                0x9107118: v4i32 = BUILD_VECTOR 0x907fd30, 0x907fd30, 0x907fd30, 0x907fd30 [ID=21]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
                  0x907fd30: i32 = TargetConstant<0> [ID=17]
    0x91074d0: i32 = Constant<24> [ORD=56] [ID=8]

Maybe because of this? You using the iPad Simulator?

Can Unity-built games run in the iPhone Simulator?

A: No, but Unity iOS can build to iPad Simulator if you're using the latest SDK. However the simulator itself is not very useful for Unity because it does not simulate all inputs from iOS or properly emulate the performance you get on the iPhone/iPad. You should test out gameplay directly inside Unity using the iPhone/iPad as a remote control while it is running the Unity Remote application. Then, when you are ready to test performance and optimize the game, you publish to iOS devices.

http://unity3d.com/support/documentation/Manual/iphone-basic.html