The current (16 April 2015) version of the ios platform on brach 4.0.x is unable to archive the project. If I create an empty project, open XCode, and run the project on my iPad it works fine. When I try to archive it for distribution, it gives the error below. Presumably it's some problem of include paths. At first I thought it might be a the release settings since Archive uses release, but if you change your XCode Scheme to use debug settings for Archive, you still get that error.
In file included from /Users/winstonwolff/steveandkate/cordova-test/cordova_test/platforms/ios/CordovaTest/Classes/AppDelegate.m:28:
/Users/winstonwolff/steveandkate/cordova-test/cordova_test/platforms/ios/CordovaTest/Classes/AppDelegate.h:28:9: fatal error: 'Cordova/CDVViewController.h' file not found
1 error generated.