We all knew this one was coming soon, we just weren’t sure when. Ever the calming presence, Apple has decided to quell the doubters, sedate the masses, and kick the nay-sayers solidly in the teeth. The company took their new ringtone service live this evening with little fanfare. The service was a bit buried under several layers of iTunes menus, but rest assured…it’s here now. Selecting a pre-purchased song, navigating to the Store menu, and selecting the Create Ringtone option takes you through several legal notifications before bringing up the Ringtone wave editor popup in the bottom of the iTunes window. It doesn’t seem to work with all purchased songs, so we’re guessing that not all labels have jumped onboard yet. We are certain though, that this will be of great use to anyone growing tired of the “Marimba” ringtone.

Tip: connecting an iPhone brings up a dialog box that asks if you’d like iTunes to check and see which currently synced songs are available as ringtones. Nice!