I run xp with sp2 on a p4 2gig with outpost firewall(no windows firewall) on a 2.3mb dsl connection.
I too had problems connecting
first of all you must go into the folder that you use to log on(ie not all users)
you must also ensure you are viewing the correct limewire folder(i deleted and re-installed several times trying to make it work)
if need be use the search programme to check for existing copies of limewire.
also ensure that limewire is not on the taskbar
delete the said folder
and restart limewire
this fix works