I haven’t tried in a while, but I ran up against it today. Neither the xcode-select (xcode4) or configure --with-xcode-path work.
dyld: Library not loaded: @rpath/DVTFoundation.framework/Versions/A/DVTFoundation Referenced from: /Volumes/Elephant/Users/jlaskey/Downloads/Xcode4.app/Contents/Developer/usr/bin/xcodebuild Reason: no suitable image found. Did find: /Volumes/Elephant/Users/jlaskey/Downloads/Xcode4.app/Contents/Developer/usr/bin/../../../SharedFrameworks/DVTFoundation.framework/Versions/A/DVTFoundation: cannot load '/Volumes/Elephant/Users/jlaskey/Downloads/Xcode4.app/Contents/Developer/usr/bin/../../../SharedFrameworks/DVTFoundation.framework/Versions/A/DVTFoundation' because Objective-C garbage collection is not supported