Updated Titanium Studio to 3.1.0 and Xcode to 4.6.2, IOS sdk to 6.1.3…
The update step is as follows:
1) Download latest titanium studio and install, maintain your current projects and settings.
2) Download latest Xcode from App store and install.
3) Open titanium studio, open existing project, clean and rebuild.
4) Open xcode, open generated project, then deploy to your device.
Tips: Currently no way to separate download iOS SDK, as it is bundled with Xcode.
With latest version of Xcode, it is easier to just update in App Store to update your Xcode with iOS SDK. It is recommended also to download Xcode and iOS together for best development experience.