Apple released iTunes 7.4.2 earlier today, officially geared towards addressing an "issue with creating ringtones using iTunes Plus song purchases and includes bug fixes to improve stability and performance," according to Apple's release notes. For many users, however, the update seems to have made matters worse.
Users employing a variety of methods, including the MakeiPhoneRingtone software utility, which have allowed users to turn MP3 tracks into free iPhone ringtones via some file rename tricks are now finding these methods ineffective. In addition, ringtones previously created using this method are seemingly now being ignored by iTunes and will be lost on individual iPhones the next time they are synced.
To make matters worse, users are reporting problems with 7.4.2 and the creation of ringtones from song purchases made through the iTunes store. According to an iPhoneAtlas reader, many songs which were previously available for conversion to ringtones via iTunes are now unavailable. Whether or not this is an intentional change by Apple is still unclear.Several reports indicate that Ambrosia software's iToner, which had ceased to work with the last two versions of iTunes, is once again useable under iTunes 7.4.2.