I have had my iphone ringtone maker since I bought my phone in July, and I dont buy itunes I use limewire why pay when you can get it free. This way you can use the same song and have various sections of it used without any cost to you. It was only 9.99 when I bought it, but I'm sure the price is up now, but you can try it for free they give you 3 ringtones, if you like it then you can buy it.
http://www.efksoft.com/products/iphoneringtonemaker/index.htm
some of you people need to google more you can find anything on the web, and steve jobs just here to rip off some of you suckers