Don't give up!!!
There are ways to have ringtones!!!!
I don't have ringo so I have no clue about that. I use minitones and it works fine. When you open minitones, it will list the MP3s available and then you click on which ones you want to use. Then when you go into your Sound Preferences and open up your tones, they will be there.
The only thing I have yet to get to work is to be able to edit an MP3 down to a ringtone in minitones. I don't know why it didn't work and no one has responded to a lot of questions I posted about all this ringtone stuff.
To edit ringtones, I use Audacity
http://audacity.sourceforge.net/
It was confusing at first, but it works awesome. Just import your MP3 into Audacity, edit it down to the 20 - 30 sec clip you want for a ringtone and then export it as an MP3. Then put that into your Quick Install. There's more instructions to it, and you can find them all on the audacity site or in the forums. What I like about it is that if I wanted to take a 2 sec clip and repeat it for 20 seconds to make a ringtone, that is possible in audacity.
I hope that helps!