I took some notes during TUAW’s Dev Clinic discussion on the process to compile your app and upload it to iTunes:

• Application Target
  • Make sure you are using the “release” configuration, and not “debug”
  • Base SDK: iPhone Device 3.2 (or 3.1.2 or 3.1.3 for Universal)
  • Architecture: armv7 (you’ll have to select “other” and type this in)
  • … for a universal app select “armv6 armv7″
  • Code signing identity: Distribution
  • Targeted device family: iPad (unless you are doing Universal)
  • Deployment target: “iPhone OS 3.2″ for iPad-only, “iPhone OS 3.1.x for Universal”
  • Icons: use a 72×72 icon (not 48px as some have said), you may or may not want to include a 57×57 icon
• Signing and Uploading
  • Set your configuration to “Release” in the Target Info window and in the Project window
  • Compile for the device, not the simulator
  • trash your previous builds (the entire build folder, even!)
  • double-check your code-signing identity, update your distro provision if necessary
  • after you compile, locate the binary using Products < [app] < Locate in Finder
  • zip up the app and submit it to apple

Other helpful resources:

• Re-signing applications http://www.tuaw.com/2010/02/09/sdk-devsugar-re-signing-applications/
• If you want to triple-check everything, you can use this hint to try out your distribution build on your device: http://furbo.org/2008/11/12/the-final-test/

Good app ideas are a dime a dozen. Your great idea isn’t guaranteed to make any money in the app store. Why should a developer develop your whole app for just a percentage of the money you are going to make? Just because you have a good idea? Most developers have good ideas too, and if they are going to risk not making anything for their hard work, they might as well balance that by doing their own work and making 100% of the profits.

Read the post here.