I've been putting it through my own set of tests. I was able to create a sound and have it become the alarm sound. What you do is create a sound with the record button, then use File Explorer to find it, click and hold it and select Copy. When you go back to the RemindMe program, click on File and Settings, the sound should show in the Alert Sound List.
Price is also a con.
You are right that price can be seen as a con, but I didn't count it as one - because the price for this product is middle of the road compared to some of the prices I have actually paid for Pocket PC software. I don't know if it's just me, but it seems like Pocket PC programs sometimes cost significantly more than Palm programs. That's not to say that there aren't some really great freeware apps that are out there for Pocket PC, and also some great lower priced software apps, but avg. This product is new, and constantly being bettered, so I feel that the developers are taking into consideration all of the feedback that they are receiving - and will use it to continue to make an even more substantial product. It's just like everything else I guess, if you try the demo, and it enriches your life, you won't think anything of the price tag.