Just a quick note that the folders /notifications and /ringtones can be anywhere on your external SD card or internal storage - it does not have to be on external, and it does not need to be in /media/sound
You could, for example, have simple /ringtones and /notifications on the root of the sd card. Or, they can be in /foo/bar/ringtones - as long as the folder is called ringtones, the option will show up in the ringtone picker.
That said, it is an excellent idea to organize things Thom's way...