Can we call different actions / delegates in response to the two different events of
Brad Larson's answer looks pretty good but here's another one that might give you a bit more flexibility/control of what you want or might want to do.
You subclass UIButton, you override the touchesBegan and touchesEnded methods so that when the user starts a touch you call
[self performSelector:@selector(detecetedLongTap) withObject:nil afterDelay:1.0];
and in the touchesEnded you call:
[NSObject cancelPreviousPerformRequestsWithTarget:self selector:@selector(detecetedLongTap) object:nil];
to cancel the event if the finger was lifted too soon.
You can get full code for this in this blog post:
http://www.isignmeout.com/adding-long-tap-functionality-uibutton/