I'm wondering if you haven't properly configured your firewall to allow LW full access. By the way Win XP has its own firewall. (Advisable not to have 2 active firewalls b/c they can interfere with each other); config instructions: 
Firewall configuration instructions 
Do this test: 
Bug Report instructions & sample image Is the result True/False? If your result is false then something's partially blocking your LW. Be that a firewall or modem/router. 
I hope it's not your isp provider who is causing your downlds to slow down. 
Can you give us a total desciption of your set up: 
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?
10. Is this a your 1st try at LW or is this a new problem with an experienced user.