Once i finish my current project ill look at committing back both a static library target, and a fix to the normal XCode project. Probably be a week or so away. Im currently trying to crank out a Iphone game in a week, as sort of a crazy challenge/dare/other thing. Ill ask for further advice on how to do this (and your standards in checkins etc) closer to the date.
Im not a lawyer, and thusly am unable to give actual legal advice.
From a technical point of view, linking statically is no different to including the code in your project. It would pay to read the license for code you either place in your project, or link statically. If you have legal concerns, please seek actual legal advice.
As far as the Iphone goes, you cannot
use dynamic lib's as part of their security setup. So any library code that you do use, needs to be linked statically, or compiled as part of the project. Again, check the license and/or seek legal counsel if this is a problem.
Creating a static lib target in XCode is rather simple, Rather than try and describe how to do it here, read the documentation for creating targets in the XCode help, Its far more correct than i will be