There is no way to "update" the official way, but you can flash custom firmware if you are rooted. Right now, 4.0 is still in the development stages, but 2.3 is fully functional and is still an "upgrade" from the stock firmware.
I've been testing the ROM in the thread just a couple of threads below this thread (too long a name to type out). Wow! I like it! It's slightly better than the MiRaGe.
If you need the entropy, 3G, and GPS tweaks I use just let me know. I'll link you to them.
I have a LG optimus v 670vm and why can't I find in simple terms how to put a newer ROM for this phone. I am new to rooting and that I was able to find simple instructions for but not what to do after that. Can anyone speak in easy to understand terms or eplain from beginning to end to get rid of froyo 2.2.2 with a kernel 126.96.36.199 and get something newer please. I like this phone an well as long as I have it I get the month for $25.00 that was changed to $35.00. I can not use banking app anymore because they changed it to be used with newer 2.3 android phone.
Thank you for any help