Ringtonator is an app that allows you to drag multiple files onto it, converting music files into iPhone ringtones and vice versa. Unfortunately the developer couldn't figure out a way to drag the music files from iTunes.
Version 1.5.2: Fixed bug that occasionally opened the wrong file in iTunes.
RequirementsMac OS X 10.4.10 or later, iTunes 7.4.1.
*Previously available here
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