Greetings tinamaan
In LW under search you will see quality. Next to that you see this #. The higher the number under # the better chances of a succesful d/l. This shows how many different hosts are sharing this file. If the number is low or there is none at all, and that host goes offline then you will receive the need more sources or awaiting sources message.
The connections speeds that you are talking about are the speeds of the host(s) sharing the file. You can download from any of these. It doesn't matter what your connection speed is.
Your version shouldn't make a difference basic or pro. There are only slight differences between the two. Give basic a try and later on you go pro if you like. I don't know the conversion rate either. One of the other members may know.
You can go to this link.
http://filext.com/ to find out about file types.