Ringtones now available from iTunes

Apple just turned on the new ringtone feature in iTunes. If you click on the "Purchased" icon in iTunes' left navigation, under Store (you do have purchased music, don't you?), you'll see a message that looks like this:

One thing to bear in mind is that you have to already own the iTunes track to be able to create a ringtone, so the .99 cent price is a little misleading. An iTunes track and ringtone will set you back US$1.98. But that's nothing to you, big spender.

According to Apple:

You can create iPhone ringtones from over 500,000 songs on the iTunes Store. You can even pick the section of the song you want. Just choose a track with a ringtone symbol, then get creative. You can edit, loop, fade in and out, preview, and play around until your ringtone is just the way you want it. And each ringtone is only 99¢ plus the cost of the song.

Personally, I'd rather spend the equivalent of eight ringtone/song combinations on Ambrosia Software's US$15 iToner and get unlimited custom ringtones. But hey, that's me.

If you're a total cheapskate, there's always the ringtone rename workaround that now works with iTunes 7.4.1, but be sure to know your rights beforehand.