While in Newport earlier this month (October 2008), we enjoyed both tours offered by this company: The "Olde Town Ghost Walk" and "Carved in Stone". Tours cost $10 per person, although a $3 discount is available both on their website if you purchase tickets in advance or with a coupon found in brochures available in most motels.
We took the first tour on a Friday night and were part of a group of about 20 people. Our guide knew her ghost stories well and kept everyone entertained. I'm not a true believer in the paranormal, but have found ghost tours in other cities to be an entertaining source of local history. The tour lasted about 90 minutes and was an easy walk through the old section of Newport. The tour is completely outside - - we did not enter any buildings on the tour.
On Saturday afternoon, we took the "Carved in Stone" tour of the Common Burial Ground, the oldest cemetery in Newport. We were the only 2 people on the tour that day and our guide, John Brennan, recognized that we were more interested in history than ghosts and tailored his tour accordingly. You would have to look far to find a better tour guide - - his background in theater and depth of historical knowledge made this one of the best guided tours I've ever taken.
Good value for the money and a fun contrast to touring all the elegant mansions in Newport.