i can comment on version 1.1.1 and 1.1.3 as i have both.
on the 1.1.1 i use sendsong and get it to assign the custom ringtone.
on 1.1.3 i just SSH into my phone and place the m4r files into /LIBRARY/RINGTONE and that way works for me.
you can alternative use itunes to import the ringtones but that method has been a hit and miss for me though