We use hackguard to protect our iOS apps from reverse engineering attacks through static analysis tools like otool -tvsz or iphone app remote code execution via dylib injection with libextractor which is part of xcodebuild toolchain for mac osx build systems.
I am happy that we are able so far not find any issues related to this product in last 5 years usage time by multiple teams across different locations using their API keys without problems. It works great! No complaints yet but there might be one day if you think about security implications while implementing such things as described above (it's good thing). The best benefit here was protection against malicious parties trying to gain access into sensitive information stored within my application when user opens them directly form browser instead opening link inside email etc., where they would need more steps/information flow between end-user & attacker just because file will have less chance of being infected due to fewer paths.