Discovered a helpful hint for converting iPhone storyboards to iPad storyboards and vice versa: view the storyboard as Source Code, and simply copy and paste from one to the other. The only change that needs to be made is on one line, change
iOS.CocoaTouch.iPad or vice versa.
Files that your app saves when running in the simulator can be found on the filesystem under /Users/<username>/Library/Application Support/. Note though that the Library directory is hidden in the Finder under Lion – but you can access it by holding down Option and clicking on the Finder’s “Go” menu.