iTunes 7.4.1 released, disables ringtone trick
Apple has released iTunes 7.4.1 (Mac, Windows) which appears to serve no purpose other than disabling the trick that allowed files renamed with an .m4r extension to be used as ringtones without separate purchase under iTunes 7.4 (released earlier this week).
Meanwhile, iToner -- a tool for transferring ringtones to the iPhone without hacking or jailbreaking -- has been updated (version 1.0.1) to resolve an issue where ringtones transferred by it were deleted by synchronization with iTunes 7.4.
Feedback? info@iphoneatlas.com.

iToner works as advertised even on 7.4.1. Phew...
I haven't tried this yet but other posters at the site supposedly verified it.
- by songnotsung September 8, 2007 2:25 PM PDT
- Workaround for 7.4.1 disabling ringtone. Courtesy of engadget:
- Like this Reply to this comment
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(5 Comments)Go to your iTunes library/ringtones and find the AAC ringtones you had switched to .M4R
Change them BACK to .m4a
sync and they now are working ringtones again.
More details here:
http://www.engadget.com/2007/09/08/itunes-7-4-1-ringtones-re-rename-workaround-discovered/