As an iOS developer that seems like a moot point. There are device bugs that cannot be replicate in the simulator, but everyone knows that. That's why you need devices.
But for general everyday development, I much prefer the simulator - I can look at the result of a code change in under 5 seconds with a simple keystroke, and not even have to pick up a device off my desk. It's empowering to be able to tweak your UIs and see the results in almost-real-time. I cannot do that if I'm forced to push the app to devices every single time.
Not to mention the debugger runs a hell of a lot faster on the host machine than any device - for the vast majority of bugs that isn't based on device quirks, it makes them much quicker to isolate and resolve.
