Just want to let you all know that it's fixed and don't bother with this post anymore. I found the solution to my problem. It's quite simple actually, I just didn't look harder from the beginning and that was my problem. Here is what I did to fix it.
I went to Desktop>System Settings>Network and highlighted "wlan0" and clicked on edit. Then I went to wireless settings and entered the WEP Key.
The command......
/etc/sysconfig/network-scripts/key-wlan0
The above command showed me "Key=......." meaning I had no key. I knew something was fishy. But anyway, earlier I could've fix it without the gui. I made the mistake of typing.....
/sbin/iwconfig wlan0 key <my key>
instead of......
/sbin/iwconfig wlan0 key restricted <my key>
But anyway, it's all fixed now and I'm happy :)