Update Iphone Ringtone Garageband

Some of the best news that I'll hear all day. If you're using the latest version of iLife and apply the GarageBand update (version 4.1.1), you get the ability to create and edit custom ringtones. They've posted up a set of instructions over at apple.com for anyone to peruse. The blurb you see in Software Update is terse but to the point: