I've updated Frostwire Portable to use the 4.17 release from the Frostwire folks -- thanks guys!
It's the standard Frostwire program that I've tweaked so it keeps all its settings and files on a removable drive. It can even use the "Java Portabilizer" from the PortableApps.com web site.
For more information, see
http://portableapps.com/node/11822