We all knew the time would come. A smartphone without the ability to add ringtones didn't make any sense. iFuntastic 2 has been released and yit it, you can add ringtones to your iPhone. I had added ringtones to my Samsung Blackjack so I had a few files available to put on the iPhone. When I performed the procedure (which I must admit is well documented in the application but a little involved), I was able to put a ringtone on my phone.
The first version of iFuntastic was great, but it was limited to custom ringtones. Version two brings improvements to the custom ringtone feature, allowing you to add ringtones from anywhere you choose. The ability to change carrier logos has also been added, as well as the ability to change the icon display order on the home screen. Just like version one, iFuntastic v2 is super easy to use. There's been a lot of work done to make the instructions clearer, when they're needed.
I had said before that this was one of the top needs on my list for the iPhone, and Apple sould be ashamed of itself for not allowing this from the beginning, but this application fills the bill for now.