DMZ:
There may be an all-in-one software solution but I'm unaware of it, this is how I do it... You may need to install the ringtone powertoy to do this. You can try it first but if it doesn't work see above post to install it.
To open the folder for sending ringtones to the phone: Connect your phone to the dock, open Activesync, click Explore, Double-click the folder called "My
Pocket PC", double click "Windows", and finally double-click "Rings". You can paste any .WAV file that you would like here.
To convert MP3's to WAV's: I suggest that you download some audio editing software and cut out the part you want. You can get free audio editing software like Audacity at
http://www.download.com.
To conserve space I suggest that you resample using the format that Microsoft uses which is:
Bit Rate: 88kbps
Sample size: 8bit
Channels: 1 (mono)
Sample rate: 11kHz
Audio Format: PCM
To resample "Sound Recorder" (with Windows it's usually in Programs --> Accessories--> Entertainment) open the audio clip then choose "Save As" and under format click change then choose "PCM 11.025kHz, 8bit, mono". Copy the new file to the phone as described above.
-Brian