I have the 8320 and for me, I just created the ringtone through a music program where I cut, crop, etc the music file and then I transfered it to my phone through uhh blackberry desktop? but you send it directly into the phone, not the sd card or whatever.
Therefore, when you go into multimedia, the file that you want to be your ringtone, it should be in "ringtones" and not in "music" or songs or whatever it's called. hope this helps
I personally use a program called Audacity (free) to clip out parts of songs, making ringtones. Then transfer them to your BB from your PC just like you would any file.
I just loaded music to the card. Then when in media and looking at the music with song highlighted, hit menu, make ringtone. I have clipped songs like mentioned above but just using the song is easy enough. You can send them through email. some carriers will not let you bluetooth certain files..
I use audacity. Free and easy to cut out parts out of a song so you can use it as your ringtone. makeownringtone.com/ pointed by mcll seems pretty easy to use as well.
I use Goldwave, where i downloaded from download.com. works like a charm and if you're an advanced user, you can edit the sound track and all the fun stuff