This is almost too easy, the excitement for waiting about Apple's rumored ringtone annoucement has faded now. I have all the custom ringtones ive ever wanted.
Kudos to the developers over at Ambrosia for developing a beautiful, easy to use, custom ringtone application.
Well, I disagree... it's not exactly simple. Certainly you can get it to work, but it's rather a PITA... and also the hacks it uses to do its thing is just not something that I care to subject my iPhone to. The fact that changes I make get wiped out with OS updates is not fun either.
That being said, different strokes for different folks. If you are happy with iFuntastic, more power to you. I agree, you certainly can't beat "free"...