The one feature I'd love from any tool with iOS development would be something that automates and facilitates certificate and profile creation and handling. Right now it seems I make a single mistake along the way and everything is messed up.
I renewed my developer account last week and due to an email snafu didn't get the renewal code before my developer account expired. When I finally got the renewal processed and launched Xcode 4.2 for the first time, I was treated as a new developer. In Xcode, everyone was done for me -- creating a certificate, making the team provisioning profile, etc. All I had to do was connect devices so Xcode could grab their UDIDs and add them to the profile.
If you're getting started today, it's pretty damn seamless. Most people find this stuff harder/more painful than the actual coding, so it's a big win for iOS developers.