contact-specific alert tone for e-mail (not voice call)?

I had an application on my Windows Mobile Q9c called WatchFlag which provided contact- and address-specific alert tones/sounds for incoming e-mail. It also allowed scheduling sounds by time of day. I set up attention-grabbing sounds for work contacts I knew wouldn't be contacting me after hours unless it was important.

I know the Droid has contact-specific ringtones built-in, but I can't find an Android equivalent to WatchFlag to handle e-mails. The WatchFlag site makes no reference to Android, which tells me a port isn't on the horizon.

Is there anything similar available for the Droid/Android? Now or in the near future?