I had the same problems as most people, but with 10.3.8, Java 1.4.2 doesn't fix it, you'll need to download Java for Panther:

http://www.apple.com/downloads/macosx/apple/java.html

Follow Stief's instructions listed above for deleting Limewire, download and install the Java for Panther, then re-install Limewire.

Fixed my problems, hope that helps.

Ralph