App wont build after restoring a system backup form Time Machine

Ti.SDK 1.6.2
iOS 4.3

I recently got a new system and built it off of a time machine backup of my old system.

When I try to compile and run the app I'm working on in the simulator I'm getting the following error.

[INFO] One moment, building ...
Traceback (most recent call last):
File "/Library/Application Support/Titanium/mobilesdk/osx/1.6.2/iphone/builder.py", line 1342, in <module>
main(sys.argv)
File "/Library/Application Support/Titanium/mobilesdk/osx/1.6.2/iphone/builder.py", line 505, in main
link_version = check_iphone_sdk(iphone_version)
File "/Library/Application Support/Titanium/mobilesdk/osx/1.6.2/iphone/builder.py", line 48, in check_iphone_sdk
output = run.run(["xcodebuild","-showsdks"],True,False)
File "/Library/Application Support/Titanium/mobilesdk/osx/1.6.2/iphone/run.py", line 7, in run
proc = subprocess.Popen(args, stderr=subprocess.STDOUT, stdout=subprocess.PIPE)
File "/System/Library/Frameworks/Python.framework/Versions/2.6/lib/python2.6/subprocess.py", line 595, in __init__
File "/System/Library/Frameworks/Python.framework/Versions/2.6/lib/python2.6/subprocess.py", line 1106, in _execute_child
OSError: [Errno 2] No such file or directory

It worked fine yesterday on the old system. I ran a backup before transferring and then installed the new system off of the most recent backup. Not sure why it would work on the old system and not the new.

Try cleaning your project and rebuilding again.

Project > Clean ... then Run > iPhone Simulator

Ok, was an annoying solution but apparently Xcode became corrupt and was missing some python files so I downloaded the beast that is xcode 4 and reinstalled and all is working again.