AAC Convert Software
AAC Convert software is currently one of the best conversion software designed for iPhone users. With this AAC Convert software, you can convert almost all mainstream video/audio formats including AVI, MPEG, WMV, DivX, MP4, H.264/AVC, AVCHD, MKV, RM, MOV, XviD, 3GP, WMA, WAV, RA, M4A, MP3 to M4R iPhone ringtone, and transfer the ringtone converted by AAC Convert software to iPhone directly without iTunes.
Converting Ringtones with AAC Convert
This is the interface of AAC Convert software (Xilisoft iPhone Ringtone Maker).
Click "Browse" button to add a file you want to convert. See the picture below, the two sliders mean start time and end time. Darg them to reset. Play button lets you listen to the added file.

You can import both video and audio file to the program. "Supported Audio" is to load audio files. "All Files" will show you all video and audio files. Then click "Open" to import.

You can keep the defaulted output file path or reset it by clicking "Browse" button. Check "Export to iPhone" to transfer the converted file to your iphone, or the file will be stored on the hard disk. Click "Generate" button to convert with AAC Convert software.

When you see "Succeeded" like the picture below, it means the conversion has finished.
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With this AAC Convert software, you can convert any video or audio file you want to set as iphone ringtone. Come on to free download and try it. You will be an unique iPhone users.
If you are a PC user, just download this AAC Convert software for Mac.