I think you are asking for something that’s not all that practical.
The iPhone 3 at 320x480 which at 3.5" works out to 160 pixels per inch. The iPhone 4/4s, is double that at 640x960 at 3.5" which works out to 320ppi. The iPhone 5 family is the same ppi as the iPhone 4 family, but just taller. Well that’s all straight forward.
What stops being straight forward is the size of your computer screen. My MBP 13" is 1280 x 800. But it’s vertical viewing area is around 7.25" is about 110 pixels per inch. My external 24" monitor is 1080p high is 11.25" vertical so that works out to 96 ppi.
The Corona simulator for the iPhone 3 skin is going to give you a content area that is 320 x 480 pixels. We can pay no attention to the device’s “inch” values because every monitor and screen is different. The iPhone 4 skin is going to give you a 640x960 screen size. And as you can see, 960 is greater than my MBP’s 800px screen height, so given the screen area is 960 + the chrome, I typically have to zoom my skin so that it’s half size.
Unless your screen is a 160ppi screen, you’re not going to get an inch to inch measurement on the simulator.
Rob