It will also be related to how many files you're sharing & how many incompletes you have. Have you ever considered this
Tip: Purge the Downloads Queue! which are instructions for OSX but the same principle applies to any other platform.
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And yes, I've tested it using different accounts with different (varied at various times) amounts of shares & incompletes ... it does reduce the no. of threads. Closing off old search tabs can also help. I'm surprised it is happening on windows though I must say! Also, using the resume/find sources function can push up the no. of threads LW uses. I found after about the 3rd of fourth resume the threads seem to increase dramatically. But that was with earlier LW's ... I haven't fully tested it with LW 4.12.x (other than noticing an improvement.)