Considering the post on PreCentral.net, I figured I would put in my two cents.
The best program I have found for ringtones is WavePad... download for free at Download.com
This will allow you to cut bits out of songs for ringtone creation, amplify them 400 percent and still maintian 320 kbps quality. Really, it's a cake walk.
Let me know if you have questions.