Apple has finally added iPhone Ringtones creation support in GarageBand 4.1.1 (build 248).
Requirements:
- Mac OS X
- GarageBand 4.1.1 or later
- iTunes 7.5 or later
- iPhone with software version 1.1.2 or later
A subtle Disclaimer from Apple:
With GarageBand 4.1.1 you can export your original song, your original audio recordings, or use Apple Loops and iLife jingles to create a custom ringtone for your iPhone.
That means that you can not should not use any copyrighted songs. What if you have the permissions from the copyright holders or the artists or the composers?
It is clear that Apple does not want to get sued by the Record Labels.
What about iPhone users with Windows? Well, they still can create their own Ringtones using any audio programs and use the .m4r method (read the instructions here).
For more informations, read the Apple Support Article here:
http://docs.info.apple.com/article.html?artnum=307108
and also this one:
http://support.apple.com/kb/ht1036
