Actually..using itunes...u can trim the song and make a ringtone out of it...and load it to the iphone....Search and you will find how..

and also you can do bluetooth file transfer...just get the right apps for it.

the beauty of iphone compared with other phone is....though the standard iphone cannot do this or that compared with other phone....i bet with you that there is an apps for it and you can do the same....