iPhone Explorer Lets You Create Ringtones And Browse iPhone File System
While there are separate tools and manual methods to browse iPhone file system, create personal ringtones, and to transfer music, photos and videos between iPhone and your Computer, iPhone Explorer, a free utility, brings them all in one single interface.
iPhone Explorer lets you explore the files on your iPhone and use it as a USB drive. You can easily transfer all your data, including songs, videos, pictures, and ringtones between your PC and iPhone. With it’s built-in ringtone editor, you can create ringtones from your favorite songs which are in MP3, WAV, AIFF or M4A formats, and upload them to your iPhone. Unlike iTunes, iPhone Explorer does not limit the duration of the ringtone to 32 seconds.
This free iPhone media manager has a very intuitive ribbon interface, giving you easy access to each of it’s functions. You can search for media based on title and play songs in it’s integrated media player.
iPhone Explorer supports iPhone 2G/3G/3GS, iPod Touch, iTunes 7.x, 8.x, 9.x.

Download iPhone Explorer for Windows
Download iPhone Explorer for Mac OS X (10.5 or later)
Works with Widows 7, Windows Vista, and Windows XP; supports 64 bit systems also.
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This is a bogus download. The zip file says iPhoneExplorer, but you get some lame .NET paint program. Might even be malware hiding in it. BEWARE!!!!
@Gunga Din
Yes, the download link was pointing to the wrong file.
The links are now updated to the correct ones.
Thanks for notifying.
Looks like it would be really useful, but crashes every time I try to connect to my phone (3GS, OS 4.1, jailbroken…).
ZD
For Jailbroken phones – Run the application in compatibility mode, as Windows XP SP3, with administrative privileges.
Me
The actual app doesn’t do what it says here, and doesn’t even look like the screenshot…
Thank you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! It worked perefclty!!!!!!!!!!!!!!