99 cents for a ringtone?

I'm watching all of the apple liveblogs from their event tonight. The first thing that was announced at the event was a ringtone service for the iPhone. It's supposed to be released later this week, but from the way it's described, I don't think it's going to work well for me.

First it looks like you can only make a ringtone from music in the iTunes store. That really sucks. I make a lot of music with Garage Band, and I wanted an easy and supported way to write my own original ring tones.

Second, only 500,000 of the 6,000,000 songs in the iTunes store are available for this service.


Finally, you have to pay $0.99 for the ringtone AND $0.99 to buy the song? That isn't going to work for me.

Luckily, there are already several ways to make your own custom ringtones, and I'm sure that this development will spur developers to make the process easier.