It was the simplest thing on earth to find my home/shared folder where Limewire by default saves all of the files you download. And importing those mp3s into iTunes was equally easy - just tell iTunes where your shared folder is! Mine's set to always refresh whatevers in my shared folder. Just play it or burn it from there. If you want to get elaborate, you can move those files into other folders - but why bother? You can't drag & drop directly - one minor detail, but from the finder, you can do anything!

Hope that contributed something to that original post :-)