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> It bloats your code base and adds more complexity to the view hierarchy.

How so?

All Interface Builder really does is serializes the objects, much like you would any other object supporting NSCoding. The net result is that an instantiated view from IB should be identical to one you created manually.

IB certainly isn't the right tool for all situations, but its design is pretty clever with tight integration with the rest of the system. I can't see any reason not to use it, when it is appropriate.