Does µTorrent allow selective file downloading?

Yes, left click on the torrent, then click on the Files tab. Select the file(s) you want to change the priority of and set them to "Don't Download." You may have to press F5 to make the Detailed Info section, which has the tabs, show up.

You can also do this when you load the torrent in the BitComet-style Add Torrent dialog. However, this dialog will not show up if you have "Put new downloads in:" turned on by default. You can turn on "Always show dialog on manual add" in the Downloads section or use File -> Add Torrent (no default save).

Pre-allocate no longer allocates all the files when skipping, only the files you choose. More.

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