I have saved some screenshots in the iPhone Simulator running iOS 5, but I can\'t find them.
I had this problem before, and it took me frickin\' ages to find them i
I went through all the posts for which I could not find where the screenshots are saved... So, I just used command+shift+4, after releasing the keys you will see a bull eye in your mouse pointer. Click and drag the section of the screen you want to copy. Once releasing your mouse click the image will be stored in your desktop. Better than figuring out where Simulator stores screenshots.