iToner 1.0.3 ships with iPhone OS 1.1.1 support

Ambrosia Software has released iToner 1.0.3, an update to the custom ringtone transfer tool that is fully compatible with iPhone OS 1.1.1. The update also includes GUI improvements and other bug fixes and enhancements

iToner lets you transfer your own MP3 or AAC audio files to the iPhone nad use them as custom ringtones. It requires no jailbreaking or other modification and is priced at $15.

Version 1.0.2 of the application was rendered non-functional by the 1.1.1 release, but the Ambrosia development team has discovered a means for again putting and playing independent ringtones on updated devices.