IT'S NOT LIMEWIRE ITSELF - IT'S WHAT YOU DOWNLOAD FROM IT!!! The whole P2P network is rife with viruses at the moment, and it doesn't just affect Limewire, as many other applications use the same networks. However, if the Limewire developers could do something about this, it might rid them of the bad name they are increasingly being given, by allowing these viruses to pollute the networks so prevalently.
If you download Limewire itself from a safe location, i.e.
www.limewire.com, you shouldn't get any spyware bundled in with the download, then make it a practice to virus scan everything downloaded, and you shouldn't have any problems. Of course, Limewire Pro (the paid for version) can be downloaded 'free' from other locations, but this is not guaranteed to be clean of nasties.