This all sounds too familiar, i have to remove viruses like this all the time and have only had to reformat 1 computer because they let the infection go too far before calling me. It's surprising that these people still use limewire to download even after being told to take the piece of ***** off.
Using a clean computer download these two programs:
copy them to a flash drive, start your screwed up computer in safe mofe and copy both files to your desktop. Run smitremfix first and then winsockfix.
Then you should check your internet explorer proxy settings turn any off that may have installed themselves.
let us know if this helps.
This should get you back onto the web to be able to update your virus defenitions but it would be better to download a manual update from esnet from a clean computer and scan in safe mode before restarting your computer.
if after doing all this you still have virus activity then it means that too many of your system files are infected and you won't have any choice but to reformat.