Apple finally posts iTunes 7.4 for both Mac and Windows.
iTunes 7.4 for Mac (48.1MB) | for Windows (49MB)
This update adds support for the new iPod nano (third generation), iPod classic, and iPod touch, plus create customer ringtones exclusively for iPhone.
About iTunes 7.4 With iTunes 7.4, sync your favorite music and more with the new iPod nano (third generation), iPod classic, and iPod touch, plus create custom ringtones exclusively for iPhone with many of your favorite songs purchased from the iTunes Store. You can now also play purchased videos with closed captioning (when available), easily rate your favorite albums from one to five stars, and watch videos at a larger size inside the iTunes window.
I’m gonna check if there is a way to create ringtones using tracks made through GarageBand.