Thanks for the heads up. There are some compatibility issues and we're working on an update. Since iPhone OS 3 is under NDA, we're somewhat limited in our ability to discuss things here, though.
If you head over to
http://devforums.apple.com we can provide more info.
In case other folks find this thread later and want to report stuff, this
Twitter post from one of the folks on Apple's Dev Tools team leads us to believe that opening RADAR tickets is appropriate for similar issues, as well.