Weird iOS4 XCode framework error

I'm converting a OS3 application to the new iOS4 release. What I did was download the new XCode and the new SDK, and just opened the application. I clicked on the "Build & Run" and I'm getting an error that looks like this for every the Foundation, CoreGraphics and CoreLocation frameworks-

warning: in /Developer/Platforms/iPhoneOS.platform/Developer/SDKs/iPhoneOS4.0.sdk/System/Library/F开发者_StackOverflowrameworks/CoreLocation.framework/CoreLocation, missing required architecture i386 in file

The application worked perfectly under 3.0 and I never had any issues. I did make sure that the Base SDK is set to iPhone Device 4.0.

Would you guys be able to tell me what I'm doing wrong or point me in the right direction to get this fixed? Thanks for any help!

Open up the Target Info and make sure that "Framework search paths" only has the $(inherited) option.