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10:08am - "Here's how it works... when you plug in your iPhone a new column will pop up with bells -- that shows how many songs you can make ringtones out of." Any segment up to 30s long, fade ins/outs. "When you're ready to buy, push the buy button and for 99c you have a ringtone."
The inbuilt functionality simplifies the workflow but basically I'm too cheap to pay for ringtones I already have bought music for....be nice if the inbuilt tool supported your own music collection. :-/