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It will connect but you have to leave the phone connected for at least a minute and a half after launching iphoto. I've tried this across many macs and it takes at least 90 seconds for the connection to take place. Just be patient while it slowly connects until they get a fix for it.

Remember at least 90 seconds.

Hope this helps everyone out. Pass it along.
 
Use the Image Capture App

I'm late to this discussion, but I found myself here 'cause my iPhone wasn't appearing in iPhoto.

It also was not appearing in Image Capture.
After a computer restart, my iPhone appeared in Image Capture, but not iPhoto.

Image capture recognized the iphone - and gave me a list of media (including helpful metadata).

For whatever reason, the checkmark next to "Share iPhone" was deselected.
Once I checked this, the photos immediately appeared in iPhoto.

If you'd like iPhoto (or other media app) to open as soon as an iPhone (or other media device) is detected by the computer, select the pulldown menu to select the appropriate app.
 
Problem solved, had the same issue:

Problem solved, had the same issue:

Opened the Image Capture -software and immediately it popped up with the iPhone also in the iPhoto.

These issues should be DEAD EASY on Apple but somehow this is a really big problem...how come? On a PC when I plug the iPhone in, it automatically pops up with a window saying, you want to open the device / folders from the device you just hooked up...and there are automatically the IMAGE/VIDEO FOLDERS available for you in the directory-system (explorer)..

Why can't the iPhone show immediately in the Finder as well?? Can't believe it really...
 
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