Without a property (in iOS) the IBOutlet will be ivar is set and retained by KVC. With a @property the ivar is set by setting the property.
On an ARC project, if one creates a nib and drags an item (say UILabel) to the .h file a strong @property will be added as well as in the .m file a line setting the property to nil will be added to the viewDidUnload method and a @synthesize statement for the property.
There are other ways to handle the retaining of nib IBOutlets that work and may even be better by some metric.
From the Apple document Resource Programming Guide - Managing the Lifetimes of Objects from Nib Files:
Because the behavior of outlets depends on the platform, the actual
  declaration differs:
For iOS, you should use:
  @property (nonatomic, retain) IBOutlet UserInterfaceElementClass *anOutlet;
For OS X, you should use:
  @property (assign) IBOutlet UserInterfaceElementClass *anOutlet;
My belief is to not fight the way Apple does things, doing so tends to make things harder. Also consider that Apple has inside information of the future of the platform. :-)