I had setup a MAC a while back with XCODE, Simulator, local B4I builder, etc. However not being a regular MAC user I personally found it to be a pain to have to update the applications all the time only to find out that things did not work anymore. Then it took me a while to regain my familiarity with the MAC nuances and figure out how to get things back in order. I finally gave up and stuck to using only the hosted builder and for a simulator, started using this: