This Custom Recovery works very well, once you figure out those commands.
BY the way, don't sell the LG Vortex short. It's a decent phone and a good successor to the Ally if money is an issue for you. (I got mine free after $50.00 rebate.) It's extremely easy to root and there is very little need for a custom ROM. Just delete the crap you don't want and install what you do. AND it runs Netflix!
I do miss knowing what's going on in the Ally community though. Doesn't look like anything juicy has emerged on the Custom ROM scene since Velocity 1.1 though. StormDroid isn't out yet, nor is CM7... and nothing else appears to be happening.