Well I transferred a load of tracks onto a MMC for listening to, by using a card reader and my PC.
Then moved the ones I wanted to be used as ringtones as follows:
First select the profile you want the track to be the ringtone for (Menu, Settings, Profiles - select the profile here - Activate)
Once tracks are on the MMC card and in the phone, select:
Menu, Gallery, Memory Card.
Then highlight the track you want for the ringtone, press options and set as ringtone!
Once you take the card out to change tracks, it won't be a ringtone anymore, so for a more permanent solution:
Menu, Gallery, Memory Card.
Highlight the track you want, press options then select Move.
Highlight the Music files folder, then press options, highlight Move here and then press select.
Once moved... open the Music files folder, highlight the track you've moved, press options, then select Set as ring tone.
The ring tone is now in the phone memory and will not be 'erased' if you change/remove the MMC.
Hope that makes sense!
Oh - you have to have enough phone memory for the track to be moved in the second example.
So if it won't move that's the reason.

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