Hey No_Nutz,
Are you using a different skin (ie not the default skin)?? Normally, you can click on a file & then you'll see the option to cancel or pause the download.
If you cancel, it'll disappear from the download pane (you can resume it by going to your LW library, clicking on Incomplete Files & then clicking on the 'Resume' button). Files that have finished downloading can be removed by clicking the 'Clear inactive' button.
Try changing skins, if that doesn't help then delete LW's preferences folder when LW's properly closed. See point 3 here & also point 2 if you've used older versions of LW in the past (there could be a folder in either location).
Fixes for LimeWire
This will kill all of your settings within options, you'll have to go back through afterwards & reset things. If you're not sure of your settings, go through LW's tools > options & write them all down, so that you can reset things later.
musicman32,
Check out this link for heaps of info about adding files to iTunes & iPod.
Transferring music to iPod & iTunes