If you submit you application and you get the following error from the Application Loader, here is what you can do to resolve this issue.
In my case, I never included the UIRequiredDeviceCapabilities. Submitting a new application binary with one, Apple state that I cannot restrict my application to fewer devices... But, you know what? Simply stating ARMv6 and ARMv7 doesn't reduce the amount of device supported... as this is the only two architectures currently supported on iOS devices. Is this a bug? Maybe.