altimp, Mikeraven & malonn,

Do you see the firewall icon (brick wall in front of the blue earth)?

Delete LW's preferences folder when LW's closed, points 2 & 3 here
Fixes for LimeWire (you'll have to go back & reset all of your preferences within Options afterwards)

Try downloading a file from here & see what speeds you get
http://www.magnetmix.com/video.shtml

Who are your ISPs? Have you used other p2p apps & if so, do you have the same sort of speeds?

Have a look through this thread, it's got some good tips for setting up LW for best performance
Configuring LW for best performance