I know this is an old question, but just in case someone else came along, I found another method (iOS 5+ is required) that returns easier work with the image:
UIImage *img = [UIImage imageWithCGImage:[[myAsset defaultRepresentation] fullScreenImage];
From fullScreenImage docs:
In iOS 5 and later, this method returns a fully cropped, rotated, and adjusted image — just like the user sees in the Photo or image picker.
monkybonk05 the answer works, but does not crop and does not rotate.
user1369511
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