I could be very wrong here but I'd like to be filled in about the iOS and Xbox (xna?) exporters for MMF2. It sounds like for iOS you just make your game as normal and then export under the correct settings, after you've taken into account using the iPhone specific control objects and such. Then you "compile it in xcode". That's the bit I don't quite get. I'm a Mac user but have never dabbled in Xcode, so I'd be completely lost with that bit. Could someone explain?
On the back end, it works much like KnP games of old. The only code you are compiling is the generic runtime for MMF2 games, and the cci files that are generated contain all your data\graphics\etc.
You only need to compile the xcode project the first time, or any time you change what object you are using. Updates are pushed through the cci files (provided you have't used or deleted an extention).