If the simulator is as good as the iOS' simulators then you must test your app in a device or you will be flooded with bug reports at launch day. As noted elsewhere, Apple is setting up labs in some cities, everyone else needs to buy the device or cross fingers and hope for the best.
BTW, Android is not as bad because there are emulators, not just simulators (that is my understanding for the disparity).
BTW, Android is not as bad because there are emulators, not just simulators (that is my understanding for the disparity).