I started getting this error after using 3.2.1 and trying to build and run on my device w debug.
I found a few posts around describing ways to fix it, but this fixed it quick and easy for me (thanks MacHackShack.com)…
In Xcode, choose “Executables” from the project hierarchy. Click your project executable then press Command-I. Choose the General tab and set the working directory to “Build Products directory”.
UPDATE: It looks like it’s a known issue:
Changing an iPhone Executable’s working directory from “Build Products directory” may cause the application not to install properly with the error message “The Info.plist for application at (null) specifies a CFBundleExecutable of (null), which does not exist.”
So I guess this setting was fine before and while the setting didn’t change, a bug was introduced that doesn’t handle the setting anymore.