I developed an application containing much more images without any one problem (except for the build / package stage, which takes more than 1 GB of data).
The key is to add the folder containing the images as a "link to the folder", and not as a group and individual items. When accessing images, you need to do even more magic than [UIImage imageNamed:@"..."] .
You get to the image path using
[[[NSBundle mainBundle] resourcePath] stringByAppendingPathComponent:@"yourdirectory"]
and adding file names (and / or reading directory contents, of course)
ps. this assumes that you are not actually using images in Interface Builder.
oh and one more tip: during development, as soon as you install the application for the first time, you can remove images from your application in xcode. Until you uninstall the application from your device, the images will still be on the device accessible to your code, but creation and installation will be faster.
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