Giving options like set as a ringtone or giving different sound profile are not a big features.....
It may seem like a small feature but it may require more work than what they can do in a month time. We do not know how the OS is written, things are integrated with this and that, and it is a whole tangle of code that needs to get sorted, tested, and sorted again. Its not as easy as plug this in and whala its good to go. It can potentially be a major undertaking. It was a Major feature with its release in IOS
The problem here is 1) MSFT is playing catch up and they cannot afford to add major updates only on a yearly basis. 2) even if they announced big new major features, like datasense, restore from cloud or extended business support, they screwed it up by not delivering or do a half-baked implementation. 3) they are also removing features, like wireless sync, Zune video support, fm radio etc. 4) major functions that people expect on a smart phone are not there - sync music is a PITA (iTunes works 5 years ago); Xbox video is broken; exchange ActiveSync is half baked; the list goes on.
There are people who paid $99 a year to buy Xbox music subscription, and found cloud sync is only available on windows 8? Wait a year - that's$99 dollars.
You can have one of two things, rushed half assed releases, or a bit longer time in development to get things right. your asking a baker for a loaf of bread before he has the dough, and getting ticked off that its not done. They are playing catch up, so why not get it right the first time instead of pissing off customers because they continue to rush things through that are half finished?
Windows phone 8 was a MAJOR change, it was not like changing a light bulb, it was like rewiring the house. It takes time to get things written back into the OS after such a major change. They did not remove the previous features because they were wanting to be jerks, they removed them because they may have had issues with the overhaul, and required a deeper look to make sure they would work with everything that has been changed. Microsoft had to rush Windows phone 8 out the door, thus you get a half finished release because they did not have enough time to get it done (refer back to my first statement in this reply) you get a half baked loaf, or you get the finished product, you cannot have both. Xbox music is certainly a problem, again they need time to finish it.