inglor/Anki-Android — comment on commit 3122468026c6997efaeb7a7f673fd9ab07f890cd
File:  line 0
By inglor:

According to the dev guide: http://developer.android.com/guide/developing/projects/projects-eclipse.html
"Under Target, select an Android target to be used as the project's Build Target. The Build Target specifies which Android platform you'd like your application built against.
Select the lowest platform with which your application is compatible."
This is different as you mentioned as well with the property for minSdkVersion
"Enter a Min SDK Version. This is an integer that indicates the minimum API Level required to properly run your application. Entering this here automatically sets the minSdkVersion attribute in the of your Android Manifest file. If you're unsure of the appropriate API Level to use, copy the API Level listed for the Build Target you selected in the Target tab.".
I think thought that both should be the lowest version that the app should run against. in our case 1.5 (android-3)
Sidenote: I think the whole confusion came from that fact that I am using Intellij Idea Community version (free) for development in which I don't remember finding all the settings for android development as exists Eclipse. I will take a look at the options again but I am suspecting that this is the case.