My hint regarding the .limewire folder was meant to solve your problem with LW freezing.
So, does this still happen or did the trick with deleting the folder do it??

Regarding your connection and speed problem (something I haven't try to solve in my first reply due to your freezing problem -having a good speed, yet the program refuses to work properly wouldn't make much sense), who is your ISP?

The best would be you give me some more specs (I know that you've answered already some of those questions):
1. OS version? (eg: Windows 98)
2. What firewalls you have?
3. How much ram?
4. Hard Disk space available?
5. Connection type? (eg: dialup, broadband, cable, etc.)
6. Modem & router brand name & model numbers?
7. Where are you trying to connect from (home, school, work, etc.)?
8. What version of Limewire (LW) & Java do you have? (Go to LW's menu Help>About LW...) Will show both LW & Java version.
9. Who is your isp provider (Internet Service Provider)?
10. Are you sharing the connection with other computers or p2p sharing programs? If yes, please give details of set up.
11. Is this a your 1st try at LW or is this a new problem with an experienced user.
12. Do this simple test for us. Using your browser go here: http://www3.limewire.com:6346/ The page should say 'Your test worked!'. What happens when you go there?

__________________

"Never Argue With An Idiot. They Will Drag You Down To Their Level, Then Beat You With Experience"