M4R
MPEG to M4R Converter is an all-in-one and easy-to-use M4R Converter which can extract audio from mpeg video files and convert to m4r format.
Screenshot:

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1.Donwload mpeg to m4r converter and install it. Connect your iPhone to PC and launch the MPEG to M4R Converter. You can see:

2. Click "Add File" button and the window below will pop up.
3. Edit music by dragging the two sliders to reset the start time and end time so that you can convert the right clip you want.
4. Click "Browse" button to select the local output place.
5. OK, now click "Generate" to activate the MPEG to M4R Converter. And the it can also transfer converted ringtones to your iPhone without iTunes.
