[CaptainChaos]

You do not need anything other than iTunes to create your ringtones. I make them all the time.

**In iTunes right click on the song you want to make a clip from. Select Convert to AAC. It will create a copy of your song below the original.

**Right click the copy and select Get Info. While in the Info popup select the Options tab and adjust the Start and Stop times to what you want the clip to be. Press OK to exit the popup.

**Right click the copy of the song you just edited and Convert to AAC again and it will shorten the song to your clip you created in the step above.

**Drag it to your desktop and change the file format to M4r. Then play it in iTunes and it will show up in your ringtones folder.