Okay, I've been thinking about this problem of "after update no connection, or waiting need source".
What unifies you all is the fact that you seem to have used the update suggestion of your old version.
I'm running 4.12.3 perfectly on my XP SP2 and I used the installer .exe dirctely from my desktop.
My suggestion would be, to get a fresh start, uninstall both LW and all Java. Reboot. Go to your firewall(s) and remove all exceptions and ports implemented for LW. Try to find the Limewire preference folder and delete it as well. Be aware, there might still be the " .limewire " preference folder of your old version around. Check here on how to find and delete it:
http://www.gnutellaforums.com/showth...imewire+folder
Do the same with your Incomplete and Share folder (if you have any incomplete files in there, accept them to be lost; though you might copy the Incomplete folder and store it on your desktop to try to put it back later if LW starts working).
After you've done so, install the newest Java version (1.5.0._07) using the JRE offline installer (can be found here):
http://java.sun.com/j2se/1.5.0/download.jsp
After installation reboor again.
Then install LW with the installer .exe on your desktop. Then run LW. In the pop up window where you start to configurate LW (i.e. when it ask you for the language), unclick the square where it says Connect at startup. Then go to Tools>Options>Adavanced>Firewall Configuration and check what listening port is shown there. Check also whether UPnP is enabled.
Then go to your firewall and open this port for LW, and also add the LW.exe (not the installer .exe) to the list of exceptions.
Check here on how to do it (firewall&connection problems -click first):
http://www.gnutellaforums.com/showthread.php?t=51361
After you have all done this, reboot again. Then start up LW, give it some time to settle down, then start connection and see whether the small brickwall in front of the globe in the bottom right corner will disappear after some time (can be anything from 2-45 minutes). You might have to disconnect and re-connect several times (in LW>Files...).
I hope with this you all will get your LW working as it does on my computer.