A new version of iTunes supporting custom ringtones for the iPhone ships this evening. They'll run 99 cents on top of the cost of the song, but in trade, you'll be able to make your own custom ringtone from the song. They can run up to 30 seconds in length, denoted by bells that appear next to "ringtoneable" songs -- which'll be 500,000 of 'em at launch. Apple flips the switch to enable the feature "next week."

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Apple adds iPhone ringtones to iTunes