I updated my monotouch yesterday to the latest version and updated Xcode to 3.2.5 with the iOS sdk to support iOS SDK 4.2 (to support an ipod touch with 4.2.1).

I am now having problems upon compiling for the device, 'mtouch failed with no output (1)'. 
My solution does NOT have any spaces in either the folders or the project name.

I have updated SDKs in the past, and have used the advice for the 'Base SDK Missing' issue successfully. 

All of the online advice about 'mtouch failed with no output (1)' deals with spaces in the project/folder names. I have even tried creating a new trivial project with monotouch, and still have this problem.

Any ideas? 

```
Building: TestNewVersion (Release|iPhone)

Building Solution TestNewVersion

Building: TestNewVersion (Release|iPhone)

Detecting signing identity...
Provisioning profile: "Team Provisioning Profile: *" (XXXXXX)
Signing Identity: "iPhone Developer: MyName (XXXXXX)"
App ID: "XXXX.testnewversion"

Performing main compilation...

Updating CodeBehind files
Updated MainWindow.xib.designer.cs
Updated RootViewController.xib.designer.cs
/Developer/MonoTouch/usr/bin/smcs /noconfig "/out:/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.exe" "/r:/Developer/MonoTouch/usr/lib/mono/2.1/System.dll" "/r:/Developer/MonoTouch/usr/lib/mono/2.1/System.Xml.dll" "/r:/Developer/MonoTouch/usr/lib/mono/2.1/System.Core.dll" "/r:/Developer/MonoTouch/usr/lib/mono/2.1/monotouch.dll" /nologo /warn:4 /optimize- /codepage:utf8 /t:exe "/Users/MyName/Projects/TestNewVersion/TestNewVersion/Main.cs" "/Users/MyName/Projects/TestNewVersion/TestNewVersion/MainWindow.xib.designer.cs" "/Users/MyName/Projects/TestNewVersion/TestNewVersion/RootViewController.xib.cs" "/Users/MyName/Projects/TestNewVersion/TestNewVersion/RootViewController.xib.designer.cs" 
Compilation succeeded - 1 warning(s)

/Users/MyName/Projects/TestNewVersion/TestNewVersion/RootViewController.xib.cs(75,44): warning CS0414: The private field `TestNewVersion.RootViewController.DataSource.controller' is assigned but its value is never used

Build complete -- 0 errors, 1 warning

Compiling to native code
/Developer/MonoTouch/usr/bin/mtouch  -v --nomanifest --nosign -dev "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app"  -r="/Developer/MonoTouch/usr/lib/mono/2.1/System.dll" -r="/Developer/MonoTouch/usr/lib/mono/2.1/System.Xml.dll" -r="/Developer/MonoTouch/usr/lib/mono/2.1/System.Core.dll" -r="/Developer/MonoTouch/usr/lib/mono/2.1/monotouch.dll" -nolink -sdk="4.2" "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.exe"
Framework is: /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk
Copied /Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.exe to /Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app/TestNewVersion.exe
MONO_PATH=/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app /Developer/MonoTouch/usr/bin/arm-darwin-mono --aot=full,static,asmonly,nodebug,outfile=/var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/TestNewVersion.exe.s "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app/TestNewVersion.exe"
MONO_PATH=/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app /Developer/MonoTouch/usr/bin/arm-darwin-mono --aot=full,static,asmonly,nodebug,outfile=/var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/mscorlib.dll.s "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app/mscorlib.dll"
MONO_PATH=/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app /Developer/MonoTouch/usr/bin/arm-darwin-mono --aot=full,static,asmonly,nodebug,outfile=/var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/monotouch.dll.s "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app/monotouch.dll"
MONO_PATH=/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app /Developer/MonoTouch/usr/bin/arm-darwin-mono --aot=full,static,asmonly,nodebug,outfile=/var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.dll.s "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app/System.dll"
MONO_PATH=/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app /Developer/MonoTouch/usr/bin/arm-darwin-mono --aot=full,static,asmonly,nodebug,outfile=/var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/Mono.Security.dll.s "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app/Mono.Security.dll"
MONO_PATH=/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app /Developer/MonoTouch/usr/bin/arm-darwin-mono --aot=full,static,asmonly,nodebug,outfile=/var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.Core.dll.s "/Users/MyName/Projects/TestNewVersion/TestNewVersion/bin/iPhone/Release/TestNewVersion.app/System.Core.dll"
Generated /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/main.m
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -std=c99 -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk -c /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/TestNewVersion.exe.s -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/TestNewVersion.exe.o 
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -std=c99 -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk -c /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/mscorlib.dll.s -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/mscorlib.dll.o 
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -std=c99 -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk -c /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/monotouch.dll.s -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/monotouch.dll.o 
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -std=c99 -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk -c /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.dll.s -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.dll.o 
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -std=c99 -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk -c /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/Mono.Security.dll.s -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/Mono.Security.dll.o 
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -std=c99 -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk -c /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.Core.dll.s -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.Core.dll.o 
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -std=c99 -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk -c /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/main.m -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/main.o 
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/TestNewVersion.exe.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/mscorlib.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/monotouch.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/Mono.Security.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.Core.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/registrar.m -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/main.o -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/TestNewVersion -framework CFNetwork -framework AssetsLibrary -framework CoreTelephony -framework EventKit -framework Foundation -framework CoreMotion -framework GameKit -framework MapKit -framework MediaPlayer -framework MessageUI -framework OpenGLES -framework StoreKit -framework UIKit -framework AddressBookUI -framework iAd -framework SystemConfiguration -framework AddressBook -framework AudioToolbox -framework AudioUnit -framework AVFoundation -framework QuartzCore -framework CoreFoundation -framework CoreGraphics -framework CoreLocation -framework ImageIO -framework Security -framework CoreMedia -framework ExternalAccessory -framework EventKitUI -framework QuickLook -lz -u _catch_exception_raise -u _CreateZStream -u _CloseZStream -u _Flush -u _ReadZStream -u _WriteZStream -liconv -lmono -lmonotouch -L/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/lib -dead_strip
Process exited with code 1, command:
/Developer/Platforms/iPhoneOS.platform/Developer/usr/bin/gcc-4.2 -arch armv6 -gdwarf-2 -miphoneos-version-min=3.0 -isysroot /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.2.sdk /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/TestNewVersion.exe.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/mscorlib.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/monotouch.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/Mono.Security.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/System.Core.dll.o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/registrar.m -I/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/include /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/main.o -o /var/folders/8P/8PRYWK7LE1yLdY8raiuKPU+++TM/-Tmp-/tmp44336f07.tmp/TestNewVersion -framework CFNetwork -framework AssetsLibrary -framework CoreTelephony -framework EventKit -framework Foundation -framework CoreMotion -framework GameKit -framework MapKit -framework MediaPlayer -framework MessageUI -framework OpenGLES -framework StoreKit -framework UIKit -framework AddressBookUI -framework iAd -framework SystemConfiguration -framework AddressBook -framework AudioToolbox -framework AudioUnit -framework AVFoundation -framework QuartzCore -framework CoreFoundation -framework CoreGraphics -framework CoreLocation -framework ImageIO -framework Security -framework CoreMedia -framework ExternalAccessory -framework EventKitUI -framework QuickLook -lz -u _catch_exception_raise -u _CreateZStream -u _CloseZStream -u _Flush -u _ReadZStream -u _WriteZStream -liconv -lmono -lmonotouch -L/Developer/MonoTouch/SDKs/MonoTouch.iphoneos.sdk/usr/lib -dead_strip

---------------------- Done ----------------------

Build: 1 error, 2 warnings

```