I am Dave, Acquisition's developer.
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Acquisition is dependent on Limewire for the source code. There is a difference in the two, but I don't know the exact nature of those differences.
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All protocol handling in Acquisition uses the LimeWire source code. But anything you see on the screen (the user interface) is new code written in Cocoa/Objective-C specifically for Mac OS X. It's been this way since Acquisition 0.6 was released last July.
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the new Acquisition is just out, and has also reached a fee-sharing arrangement with Limewire. Yay! I hope this means we don't have to worry about one not cooperating with the other.
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Actually no, the "new" Acquisition is not out. We're in very small scale beta release, mostly waiting for the next stable and general release of LimeWire. At present, version 0.74 is the stable release. And no, there is no "fee-sharing" agreement either.