Xcode 4.2 Beta: Can I build for iOS 4.x?

Question

In my iOS project using Xcode 4.2, all targets are showing Latest iOS (iOS 5.0) in the build settings, and I have no other available options. Can I deploy to a device running iOS 4.x using Xcode 4.2 Beta, and if so how?

Note: I'm only interested in ARC at this time, otherwise I'd be using 4.02 (Snow Leopard).

Answer 1

Are you looking at the "Base SDK" setting or the "iOS Deployment Target". You want to build against the "Latest" SDK, but set the deployment target to the minimum supported iOS version.