Multi-line UITableViewCell using UILabel

No need for UITextViews or custom UITableViewCells. You can use standard UITableViewCellStyles and make the detailTextLabel accept multiple lines and specify its line break mode. The code would be:

static NSString *CellIdentifier = @"MyCell"; 
UITableViewCell *cell = [tableView dequeueReusableCellWithIdentifier:CellIdentifier];
if (cell == nil) {
 cell = [[[UITableViewCell alloc] initWithStyle:UITableViewCellStyleValue2
     reuseIdentifier:CellIdentifier] autorelease];
}
cell.textLabel.text = @"Label';
cell.detailTextLabel.text = @"Multi-Line\nText";
cell.detailTextLabel.numberOfLines = 2;
cell.detailTextLabel.lineBreakMode = UILineBreakModeWordWrap;

You will also need to return a suitable height for the multi-line cell. A height of (44.0 + (numberOfLines - 1) * 19.0) should work fine.

Update: As Vaibhav mentions in the comments, you can use variants of sizeWithFont from the NSString UIKit Additions to get the required height. I guess sizeWithFont:forWidth:lineBreakMode is the one to use here. Thanks for your input!