If you open up Windows Explorer, you will find the folder. I have tried to delete it and still do my Limewire and it works fine with no Itunes folder anywhere. I have just re-added the folder where it was orginally.

But for those that want to know. You can delete it and have your music going to My Music or make up a folder like, Limewire Songs and that is where you can let your music go.

You can then share it from there I suppose.