It sounds like you're using windows right? In windows, the limewire playlist in iTunes is purely a reference to the files in the LW Downld folder. To import these into iTunes own library you can just drag & drop them from the lw dwnld folder into the iTunes app & it will add them to its own library. I don't have an iPod so I can't speak from experience about how an iPod works. You may find moe tips from here:
http://www.apple.com/support/itunes/...ial/index.html & also if you search the forum for the word ipod. Use the search button top-right on this page.
For an iPod tutoria see here:
http://www.apple.com/support/ipod/tutorial/index.html