I can't say I've had any problems with iTunes 5 or 5.0.1.... other than the dissapearance of the <"only a Hobo's" limewire tunes> list at the top of the playlists which is a bit of a bore. ... but perhaps Apple had there own reasons for stopping it appearing
As you have correctly noted Serra ... when the Limewire display freezes which is fairly often, it does in fact carry on functioning with out a problem.
See if LOTR's suggestions help.