I want to learn iOS development. I have a jailbroken first gen iPod touch with iOS 3.1.3, that I was hoping to use for testing and running my app. I am running Mountain Lion with XCode 4.6 which allows me to only deploy down to as low as iOS 4.3.
I was wondering if it would be possible for me to develop iOS 3.1 apps with my XCode? or would I have to download older versions of XCode and iOS SDKs to do so?
No, you'll have to update to a newer version of iOS, or use bootcamp to boot to Lion with an older XCode.