Earlier this week, my iPhone 4 running iOS 5 beta 1 “reset” itself. It kept my lock screen wallpaper and passcode but prompted me to set up the iPhone as if it were new once I typed in my passcode. After setting it up, the Apple logo was shown again and the home screen was briefly visible. Then the set up screen saying “slide to set up” was shown again. The setup screen reappeared every time like a loop. Apple probably changed something on their servers during this time or set a time bomb in the first beta. I was out of the country at the time of the problem so my device was reduced to an expensive paper weight. Since returning from Costa Rica yesterday, I’ve downloaded and restored to iOS 5 beta 5.
Update: It appears to have also happened to my iPad running iOS 5 beta 2.
Connecting the device to iTunes produced this message.
I can’t recall an expiration date stated on the developer website. Let me know if I am wrong.