These kinds of questions about wether LW is legit or not have been asked so many times it would be stoopid to give you links. Just run a search yourself (using the little search button at the top right of the page, in case you missed it) for the word "legal" and tell it to look only in the threads in the LW forums.
There's a whole bunch of them posts. Read some. It is very educational.

Edit: dammit, I posted this in the deleted thread. Lol.

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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-