I’ve been doing some mobile site development for work and needed to run iOS Simulator, but didn’t want Xcode clunking about in the background. After a little digging, I found this: http://osxdaily.com/2012/07/09/ios-simulator-without-launching-xcode/
From here I learned about the Command+Shift+G finder shortcut, which allows you to enter and go to a path (in this case, /Applications/Xcode.app/Contents/Developer/Platforms/iPhoneSimulator.platform/Developer/Applications/).
Alternately, you can right-click (or control-click) to open the contents of the application and drill down that way.