There are a number of things you can check:
-do you have a firewall?
->is it configured to allow LW to access the net?
-do you have a router?
->is it configured to allow LW to access the net?
-are you trying to connect from home?
-does your ISP throttle P2P?

__________________
iMac G4 OSX 10.3.9
RAM 256MB
LW 4.10.5 Basic
ADSL anything from 3 to 8Mbps/around 1024kbps

"Raise your can of Beer on high
And seal your fate forever
Our best years have passed us by
The Golden Age Of Leather"
-Blue Öyster Cult-