Stefano sent me a link to this press release from PocketMac. Turns out they just released a commercial ringtone creator for Mac users. Windows users have quite a few some of which are even free. On the other hand $14.95 is not much to pay when you consider how much 1 ringtone would cost from your carrier.
The software is very simple and lets you choose any 30 seconds to create a ringtone from. It can even take sound out of a movie. This should make it simple enough for every Mac user to create a ringtone on their own.
You can check out RingtoneStudio on the PocketMac website. It is available for $14.95 at this link or you can even watch a YouTube video demonstration. They were even nice enough to throw in a free 15 day trial on the product page.
On a side note I always hate when vendors like PocketMac charge you an extra $4.99 or so for a “download protection” service. I hate to point the finger at them since they are not the only ones at fault but it just happened to bring it to mind.