Love it!

I used to hassle with setting start/stop points in iTunes, exporting the tracks, re-importing them, just to get ringtones because I refused to pay for ringtones of music I already owned!

This app is dead easy to use, and the best part is Ringer even puts the resulting ringtone into iTunes for you. Definately worth the $2.99 price.

loftyDan about Ringer - Ringtone Maker, v1.2