As metioned above in my post. You can not run any iPhone apps! You can develop and run your OWN apps compiled for the simulator!
If I'm wrong show me how you can install an IPA onto your simulator.
EDIT: And you edited your post, haha. It doesn't even say edited though.
Yea, after I posted my original post, I read yours which made my head pop right out of my hind end, so I changed my post to another though