If you want to run your app on a real iPhone, the process is pretty much identical. You need a USB cable to connect your iPhone to your Mac. As long as your phone shows up in the Locations sidebar in your Finder (shown at 1), you're good.

May 5 (Reuters) - Apple should return hundreds of millions of dollars to developers who claim the iPhone maker defied a U.S. judge’s order governing its lucrative App Store, causing them to pay inflated commissions for more than a year, a new lawsuit said.