Beyond the code, the usual factors that make connections difficult are short uptimes, blocked port 6346 by the firewall, router, or further upstream, and other hosts refusing leechers.

Keep trying. Finding hosts can take a while, though regulars can connect very quickly. Turn on View->Show/Hide->connections to see the lists LW will try, pause, and try again. It's just a view, so can be pretty frustrating just to watch.

In addition to the ideas posted in the connections forum, look at the LW->Help menu for Tips and FAQ, especially for anything to do with firewalls and routers. The OSX firewall has a built-in setting to allow gnutella (Limewire) connections on port 6346, which helps when turned on. Routers also usually block incoming connections on port 6346, so they too need to forward that port to your computers. Linksys, for example, offers some toll-free tech support on how to set up "Port Forwarding" in their Advanced settings.

Some people set LW to refuse connections to those not sharing, but if you share about 100 files, you should be OK here.

Although LW will try to work around those blocks, opening a clear connection helps. There's not much you can do immediately, though, if connections are being blocked or refused further upstream. Check with your ISP to see if connections to the gnutella network on port 6346 are allowed.

There's hope the new release might help, so keep checking for updates.