On Mac 10.8.2, I installed titanium with 2 different sdks (3.0.2, 3.0.0) and whenever I try to run anything on the iphone simulator, even the sample files, I get an error.
EDIT: I just tried 2.1.4 again and it worked this time.
The error is:
RangeError: Maximum call stack size exceeded
Programs should run in simulator.