http://stackoverflow.com/questions/5253869/xcode-4-says-argument-invalid-on-attempt-to-run-project
I got the following message argument is invalid in response to some kind of USB weirdness. Sometimes it goes away if I unplug and replug the device, but what turns out to fix it more reliably is to start up iTunes. Usually, when I do this, the problematic device doesn't appear in the DEVICES list at first, but does after a few seconds, and once it does, the device and Xcode get along fine.