I have great news! Yes, the Revolution has the capability to assign ringtones to contacts.
Please note that this ringtone will just be for calls, and not for messages. You can view the information on how to set the contact for a specific ringtone, as well as the phone simulator, here . Below I have also provided the step-by-step information to assign a ringtone to a specific contact on the Revolution.
1. From the home screen, press Contacts
2. Select the preferred contact
3. Press the Menu key
4. Tap Options
5. Tap Ringtone
6. Select the preferred ringtone and press OK.
I hope this information is helpful for you! Have a great day!