You cannot simulate face-up or face-down orientations. The simulator supports all four major interface orientations: portrait, landscape left, landscape right, and portrait upside down. Hardware > Rotate Left (Command-left arrow) and Hardware > Rotate Right (Command-right arrow). Firmware versions are selectable via Hardware > Version. Use Hardware > Device to simulate an original iPhone, Retina iPhone, or iPad-style device. Table 3-1 shows how to perform these tasks via the simulator. Because the Macintosh is not a handheld touch-based mobile system, you must use menus, keyboard shortcuts, and the mouse or trackpad to approximate iPhone-style interactions. The iOS SDK simulator makes it possible to test applications on the Macintosh using many of the same actions a user would perform on an actual device.
IOS 5 Developer's Cookbook, The: Core Concepts and Essential Recipes for iOS Programmers, 3rd Edition