This Ray Flash Ring attaches onto your camera's existing flash, and redirects the output into a ring for softer, less directional lighting. $200 is a bit steep for the honor, though. [OhGizmo]
It's not a ring... there's a gap at the top. So you get catch lights that are ugly U-shapes. And the positioning is iffy depending on your lens and camera/flash shape.
not to mention you lose at least a stop of light- and it's a gamble if it will fit the camera/flash combination you have now and more of a gamble if you move on to other models.
The upside is that is supports whatever features your flash supports.
Still it is way overpriced. Needs to be $100 less to be something I would consider.