Hi,
I assume you did a DFU - set up as a new - and did not restore from backup - that's what worked for me.
If your phone is recognized in iTunes (first) - Xcode should recognize it. I don't know what to suggest - other than restart Xcode and Instruments and see if it gets recognized.
If you are having the issue with the system task running away -- you may be able to tell another way. In my case iOS itself was recording problems with this task. Look at your diagnostics log. If you see one or more entries that looks similar to this: ExcResource_identityservicesd-2016-MM-DD . . . - you likely have the same issue as I did.
The post immediately above yours is another possible fix (the one by GarretN). It's the first time I have seen that one as a possibility.
These have also been reported to work (I have not tried them). Somehow the queue that the system task has been looping on needs to be disrupted - perhaps one of these do that too.
- Reset your Apple ID Password via appleid.apple.com
- Turn off iCloud Keychain on all your iOS & OS X devices - reboot them
- Lastly - you could have battery drain due to another issue. One, which I think is more common, is an app that is always permitted to have Location Services Always On - as opposed to Only When Using. You might want to check those too.