In XCode 6.4, when I try to run the simulator of iPhone 4S (any of the iOS 8.x versions), I receive this error message:
Unable to boot device because it cannot be located on disk.
The simulator comes up, but (usually) the app doesn't run (occasionally, it does). XCode hangs.
I was able to get it to run by removing all derived data and cleaning out the CoreSimulator/Devices dir and then rebooting my machine. But now it's doing it again.
The other devices run fine on the simulator.