Ring only for favorites? Any way to micromanage ringtones?  I'd like to only hear my phone ring when called by people on one of my favorite lists, or family list.  Same with sms/mms sounds.

Edit:
I'd already considered putting everyone but favorites on silent.  However those lists change fairly often.  So only a specific group ringing at a specific time is prefered.
You can do this. I use Zedge to get ringtones. Get a mute or silent ringtone and then select another ringtone and set it manually for specific people. Zedge also helps you set it for individual contacts.