I have 2 separate iOS projects in xcode 4. One is APP which is main application, and in second project I have static library LIB, that is used in APP.
No I am preparing Ad Hoc distribution of my APP. I wondering how I supposed to compile LIB, to use it in my APP ad hoc version. Should I use Product->Archive and then Share my static library and use it in APP, or I need just normal build for iOS Device?
A static library is not signed (never is), hence no need to setup any specific in its compile settings on that end - in other words, no need to select a specific signing identity or even add Entitlements.
When building a static library for distribution, you may however make sure it is compiled in release-mode to remove possibly unwanted debugging code. To achieve that, you may build any scheme that is not bound to your debug configuration. That would, by default be the "Profile" or "Archive" scheme.