Chiming in here because I'm having the same issue. I've searched the boards for a solution but people seem to give a solution for transferring files to iPod, which isn't what I want to do.

Before I upgraded my iTunes, I used to be able to listen to my Limewire music through iTunes as a 'Shared' network folder. I can no longer do that. The error simply says that it's incompatible. Any solutions?