I wrote a blog that gives several approaches to finding EXC_BAD_ACCESS
http://loufranco.com/blog/files/debug-iphone-crash-EXC_BAD_ACCESS.html
Here is what is happening -- Your program is running a line of code that tries to read or write to a memory location that hasn't been mapped for your application. The most likely reason for this is that you have a bug that is corrupting memory or you are sending messages to deallocated objects.
It is very likely that the line of code that is running is not the bug -- it happened sometime before this.
I strongly recommend a Build and Analyze and scan-build, because it finds these kinds of bugs a lot. It will likely flag a lot of code in your project -- you should address each problem because it's likely a real problem that will cause a leak or crash.
After that, try suggestion #4 in the blog which will instruct the simulator to never deallocate any objects -- once an object is in the state where it would be deallocated, it will warn you if anyone sends it a message. This would have caused EXC_BAD_ACCESS, but now gives a good description of what is happening.
Obviously, you need to turn this off in the real application (or have a lot of leaks).