iPhone target for Frameworks/Libraries

Hi all,

I am new to iPhone dev and Xcode. I am trying to build an app that will use a library (a dylib or a framework) which I am also in the process of developing.

I have noticed that when I choose a new Cocoa Framework (or Dynamic Library) project and build it, in the configurations "Overview" I see only OSX 10.5 targets. When I try to change the targets (using Project Settings->General->Base SDK for all Configurations) it can add, for example, the iPhone simulator. But! When I try to build the framework for the simulator it says:

"target specifies product type 'com.apple.product-type.framework', but there's no such product type for the 'iphonesimulator' platform"

Ok, I get it, no such type for the platform. But now some questions arise.

1. How do I know which product types ARE available for the iPhone simulator/device platform?
2. A static library (libMyCoreLib.a) builds fine (and has iPhone Simulator in the target types from the get go); so why not Frameworks and Dynamic libraries? I was under the impression that iPhone runs plain OSX, so what's the deal here? Can I build for OSX and deploy on iPhone?
3. Can I have a Cocoa Touch app which embeds/includes/depends on (I am not quite fluent with the terminology here) another project NOT targeted at the iPhone platform? Something like here:
http://developer.apple.com/documentation/MacOSX/Conceptual/BPFrameworks/Tasks/Cr eatingFrameworks.html

Thanks!

MarK.