No not unless you're using mac OSX will such files automatically import to iTunes.

For windows, don't get confused with the LW Playlist you see. In fact, totally ignore it. It's simply a playlist that reflects what files you have in your LW downld folder & the actual files still haven't been added to iTunes properly.

So to learn more about this, see How to transfer to my iPod (& iTunes) - for video about video information. And above that for how to add files properly to iTunes.