Update: 09/06/08 This process works on the 3G version.
- Open Itunes, Click on your Library.
- Right click on the file your what to be your Ringtone.
- Select Get Info,
- Select Option. Increase the volume to 100%
- The ringtone has to be 30 seconds long. For the test. Leave the start time alone, and change the end time to 0:30. Click ok
- Rigfht click on the song and click convert Selection to AAC
- Right click on the 30 second version and select Show in Windows Explorer
- The file that you open in Windows Explorer. The format will be m4a
- Change the m4a format to m4r. So it would be yourmusicname.m4r
- Go back into itunes and remove the 0:30 second version from your library.
- Windows explorer should still be open. Double click on the .m4r file and it should add the file to your Ringtone folder.
- Now sync your library with your phone and the ringtone will be added.