[iphone] Where does the iPhone Simulator store its data?

if anyone is still experiencing this problem in lion, there is a great article with 19 different tips to view your ~/Library dir. find the article by Dan Frakes here http://www.macworld.com/article/161156/2011/07/view_library_folder_in_lion.html

Remember the directory to the simulator is given below

~/Library/Application Support/iPhone Simulator/User/