I use a ring light for high magnification macro work... approx. 2X or greater magnification. The one I use is a Canon MR-14EX, which has dual light tubes that can be set individually for up to 8:1 light ratio.
For less magnification I prefer a twin light setup and use a Canon MT-24EX with a custom mounting bracket instead of the supplied lens mount. This allows more versatility positioning the two flash heads. The MT-24EX also allows up to 8:1 lighting ratio to be set, but because the flash heads can be positioned farther away from the subject, makes for more dramatic lighting effects, less flat lighting.
Left: MR-14EX on Canon MP-E 65mm macro lens (magnification range from 1X to 5X).
Right: lens & ring light used to photograph a tiny, freshly hatched snail at approx. 3.5X...
Left: MT-24EX on Stroboframe dual flash bracket and Canon EF 100mm macro lens (range infinity to 1X).
Right: lens and twin light used to photograph a turtle are approx. 0.25X.
The main reason I prefer the twin light for moderate magnification macro is because ring lights tend to make for relatively flat lighting effects, without much shadow modelling at other than high magnifications. The little snail (about 4mm) above used the maximum 8:1 lighting ratio possible with the MR-14EX.
Actually, a lot of the time when I don't have a macro lens and macro flash with me, I just add some extension tubes to make a non-macro lens focus closer and use a standard flash diffused with some white gauze over the flash head. Sometimes I'll even use that single flash with a macro lens. The flash is too powerful for close-up work normally, but works fine after I diffuse it with the gauze over the head, as shown. The images below were shot this way. I was photographing birds with a long telephoto when I saw the garden spider and its web... the flash was used as a fill. I spotted the praying mantis in my garden at home and used the same rig, but set the flash full power to act as the primary light source that would make the backgrounds go black (it was a busy tangle of stems and branches).
Left: Canon 580EX flash with diffuser and off-camera shoe cord, for close-up work.
Right: Diffused 580EX as fill for garden spider in web, 70-200mm zoom fitted with 25mm extension tube.
Below: Diffused 580EX as full flash for praying mantis, 100mm macro lens.