There are two hacks to beat Rapidshare download limits and waiting time.

1) Rapidshare Hack (For Firefox Users) :-

The hot new Firefox plug-in takes browser customization to a whole new level by letting users filter site content or change page behaviors.

The glory of open-source software is that it allows anyone with the inclination and the scripting knowledge to get under the hood and hot-rod their computing environment.

But most of the time, that advantage is available only to people with the programming skills to make the changes they want.
That's where Greasemonkey, a free plug-in for Firefox, comes in -- it simplifies hacking the browser.
Released at the end 2004, Greasemonkey is the latest in a growing arsenal of Firefox customization tools.

It changes how Web pages look and act by altering the rendering process.
http://greasemonkey.mozdev.org/
1) Install the Greasemonkey extension>>

http://downloads.mozdev.org/greasemonkey/greasemonkey_0.2.6.xpi

2) Restart Firefox

3) Go to http://rapidshare.de/files/1034529/rapidshare.user.js.html

4) Right click on rapidshare.user.js and choose "Install User Script".

5) Run FireFox.

6) From 'File' Menu click on Open File then browse to whereever you saved the 'greasemonkey.xpi' plug-in.

Open it, wait a couple seconds for the install button becomes active.

7) Click on it to install this plug-in then CLOSE FIREFOX.

8) Run FireFox again.

From the File Menu click on Open File then browse to whereever you saved the 'rapidshare.user.js'.

9) Open it.

10) Click the Tools Menu then click on Install User Script then click OK.

11) Close FireFox.
The script will let you enjoy "no wait" and multiple file downloads......!

2) Rapidshare Hack (NIC Tricks and MAC Cloning) :-

Rapidshare traces the users IP address to limit each user to a certain amount of downloading per day.

To get around this, you need to show the rapidshare server a different IP address.

Here are some methods for doing this-

A] Short-Out the JavaScript:

1) Goto the page you want to download

2) Select FREE button

3) In the address bar put this- javascript:alert(c=0)

4) Click OK

5) Click OK to the pop-up box

6) Enter the captcha

7) Download Your File

B] Request a new IP address from your ISP server:

Here’s how to do it in windows:

1) Click Start

2) Click run

3) In the run box type cmd.exe and click OK

4) When the command prompt opens type the following. ENTER after each new line.

ipconfig /flushdns

ipconfig /release

ipconfig /renew

exit

5) Erase your cookies in whatever browser you are using.

6) Try the rapidshare download again.

Frequently you will be assigned a new IP address when this happens.

Sometime you will, sometimes you will not. If you are on a fixed IP address, this method will not work.

If this works for you, you may want to save the above commands into a batch file, and just run it when you need it.

C] Use a proxy with SwitchProxy and Firefox:

1) Download and install Firefox

2) Download and install SwitchProxy

3) Google for free proxies

4) When you hit your download limit, clean your cookies and change your proxy
D] You can use a bookmarklet to stop your wait times:

1) Open IE

2) Right Click On This Link

3) Select Add to Favorites

4) Select Yes to the warning that the bookmark may be unsafe.

5) Name it “RapidShare No Wait”

6) Click on the Links folder (if you want to display it in your IE toolbar)

7) Click OK

8) You may need to close and reopen IE to see it

9) Goto rapidshare and click the bookmarklet when you are forced to wait