I have finally learned how to make ringtones for my iPhone. It's a bit of messing around, but it's actually quite easy. I celebrated by making some Doctor Horrible tones and assigning them to random people. Hours of fun! The one I'm mostly using is Bad Horse's letter, y'know, "He rides across the nation, the thoroughbred of sin, he got the application that you just sent in," it's the most ring tone-y one.
Now I just need to find out if it's possible to make message tones.