Can add a ringtone by simply putting it in the right folder (*.ogg foimat)
I have actually been able to do this with .mp3 files.
One poor issue:
Battery live is much worse then the iphone (and I am just on 3G)
I had bad battery life out of the box too. The best way to improve battery life is to root it and install apps like wakelock detector, GSam battery stats, and CPU spy (all of these are free). These will help you determine what exactly is causing battery drain.
For me, my biggest battery hog was Plex for Plex Pass. The problem was that this app, even without ever being used or opened, kept my phone from going into deep sleep. This means that when the CPU in the phone would normally be barely taking any power, it was actually stuck on the lowest clock speed instead. This took a big hit on my battery. I was loosing 4-5% every hour without ever using my phone. But after pinpointing the app, I uninstalled it and noticed a huge difference. CPU spy is what helped me here.
Also, with wakelock detector, I found that FaceBook was causing a bunch of wakelocks. Now to be completely honest, I don't know exactly what wakelocks are. I know that they are not good for your battery. In the FB app, I turned off notifications, messenger, and everything you could think of. Wakelock detector was still showing a bunch of wakelocks. So I uninstalled the app and added the FB bookmark from Chrome to my home screen. Now when I need to use FB, I just use it in Chrome.
There are a couple other settings I have changed. Also, another important thing to consider is flashing a custom kernel. I installed Franco Kernel. Custom kernels don't help so much when you use the phone, but you will likely notice a difference in idle power drain. For example, I left my phone unplugged last night. After 10 hours of being unplugged, it only lost 4%. So now with 24 hours off the charger, I can get ~4 hours SOT, even close to 5 with lighter usage. That is with location on, Google Now on, sync on, etc.
The biggest issue with battery drain is mostly third party apps. When I had battery problems, people just kept telling me pointless stuff like "check bluetooth, NFC, wifi, blah blah blah." I wish someone would have told me what I know now. Because really, it all depends on what apps you have installed. And people install different apps. So one person telling you what settings to turn off and on won't always work because you two are using your phones differently with different apps installed. If you want to improve battery life, don't worry about those things. Root your phone, install those battery apps to help figure out what is causing battery drain, and start troubleshooting. That is my advice.