iPhone App ID, Springboard error 7, and ApplicationVerificationFailed

I am new to development, so this may be silly questions...

1. I see ApplicationVerificationFailed error when trying to build and debug my application on my iPod with iPhone OS 2.1.1.

2. If I build and debug on simulator, I get "Error from debugger: Failed to launch simulated application: SpringBoard failed to launch with error: 7. But I can click on the icon on simulator and run my app.

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This is my first application and I am trying to run with the AppID I created on the Apple portal. I am sure I am doing something wrong in the info.plist file or in the project settings.

Many developers faced this problem, but I don't understand the answers they have received. Hence, I request somebody to reply in English and not Greek, please, and without using short-hand, please.

If you can tell me what values I should enter in info.plist I would really appreciate that. Assuming my App ID is Sxxxxxxxxx.com.sam.* :

1. What should be specified as the project name under Project Settings?
2. What should be specified as CFBundleDisplayName in info.plist?
3. What should be specified as CFBundleExecutable? (currently ${EXECUTABLE_NAME})
4. What should be specified as CFBundleIdentifier? (currently ${PRODUCT_NAME:identifier})
5. What should be specified as CFBundleName? (currently ${PRODUCT_NAME})
6. What should be specified as CFBundleSignature? (currently ????)

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Also, if somebody can tell me what is the use of App Name we entered on the program tool for generating the random App ID? Is this App Name used anywhere in the info.plist or project setting?

Thanks for helping me out.

Best
Sam