Answer

The various preferences files are stored as plist under the Preference folder with the folling pattern:

/Users/<UserName>/Library/Application Support/iPhone Simulator/<iOS Version>/Library/Preferences

Ex. in user mvohra and iOS Version 5.0 the location would be:
/Users/mvohra/Library/Application Support/iPhone Simulator/5.0/Library/Preferences

mymac:Preferences mvohra$ ls -lt
total 88
-rw-------  1 mvohra  staff  604 Nov  9 23:34 com.apple.springboard.plist
-rw-------  1 mvohra  staff  251 Nov  9 22:47 com.apple.itunesstored.plist
-rw-------  1 mvohra  staff   69 Nov  9 22:46 com.apple.apsd.plist
-rw-------  1 mvohra  staff  258 Nov  8 22:47 com.apple.ubd.plist
-rw-------  1 mvohra  staff  446 Nov  5 00:12 com.apple.GEO.plist
-rw-------  1 mvohra  staff   69 Oct 31 23:49 com.apple.locationd.plist
-rw-------  1 mvohra  staff  120 Oct 31 23:48 com.apple.MobileSMS.plist
-rw-------  1 mvohra  staff  147 Oct 31 23:47 com.apple.GMM.plist
-rw-------  1 mvohra  staff   69 Oct 31 23:46 com.apple.AppSupport.plist
-rw-r--r--  1 mvohra  staff  391 Oct 31 23:46 com.apple.accountsettings.plist
-rw-------  1 mvohra  staff   58 Oct 31 23:46 com.apple.LaunchServices.plist
mymac:Preferences mvohra$