My app uses NSTimer and it appears that NSTimer doesn't fire when the iPhone goes into the stand-by mode (either by pressing the hardware button or by the idle timer).
When I activate the iPhone again, my app is still in the foreground. What happens to third party apps when the iPhone is the stand-by mode?
The iPhone's Sleep/Wake button sets the device to standby. When you press it, your iPhone switches to sleep mode, which disables the screen while leaving all processes running.
No, there is no specific time defined for this.
Although it's not evident here, I believe the original poster did find an answer to his question by starting a thread (available here) in the iPhone Developer Forums (which I eventually had to find myself because the information wasn't shared here).
In case someone else has the same question and finds the page in the future, here's a helpful response that was posted by someone on the Apple forum called "eskimo1" (which I have edited slightly such that it is easier to read without having the context provided by the entire original thread):
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