When i try to launch my application from Xcode to the device, i get this error:
error: failed to launch \'/Users/Luca/Library/Developer/Xcode/DerivedData/myapp-b
I too faced this problem. I tried with options which were listed above.
But in my case problem was the device having iOS version 6.0 and the build target was set to 6.1. Version of simulator is iOS 6.1 so it is running on simulator but on phone it failed to install.
After changing the build target version it executed and installed on device
May this will help...
--Avinash