LimeWire as a real MP3 player like iTunes

[itunesLib]

I've been surfing these forums and looking at the LimeWire UI. I'm trying to figure out whether LimeWire can actually be used as a normal MP3 player for my library of songs. I have about 3,000 legitimate songs that I want to import to LimeWire. Is it possible to do anything like this without copying/moving the songs to the Shared folder? Basically, does LimeWire offer an iTunes like library where I can just search for certain songs and create a playlist to listen to? Please Help.