found it here - C:\ProgramData\LGMOBILEAX\Phone\BIN
I don't have this folder because as I said before I tried to make another update after i got the new firmware to try to get it back and the software deleted that folder, so at least we know that after any other update the LG software is going to delete the old one.
This is part of my log in: C:\LGMobileUpgrade
11:35:09 : Start Date : 2010-12-27 11:35:09
11:35:09 : ***** Check Tool Version *****
11:35:09 : Tool version : 1.4.5.9
11:35:09 : UpgradeDLL version : 1.2.3.7
11:35:09 : Current Dir : C:\ProgramData\LGMOBILEAX\B2C_Client
11:35:09 : LGE USB Driver Version :
11:35:09 : ******************************************
11:35:09 : [C:\ProgramData\LGMOBILEAX\Phone\BIN] Try to delete folder
11:35:09 : [C:\ProgramData\LGMOBILEAX\Phone] Try to delete folder
11:35:10 : *****CheckOS Start********
11:35:10 : Microsoft_Windows7_Home Edition_
11:35:10 : *****CheckPCSyncPrograms Start*****
11:35:10 : PCSyncPrograms Not Found - OK and ready to upgrade
11:35:10 : SetEmerModeAT()
11:35:11 : Checking the connection with the cell phone...
11:35:11 : dwWaitResetTime(40000 ms)