1. Install a custom recovery using this tutorial found here
http://androidforums.com/optimus-v-...-custom-kernel-rom-change-boot-animation.html Then make a backup of your system in the recovery under "backup and restore"
2.Root you phone using the Gingerbreak.apk. A really good tutorial can be found here
http://androidforums.com/optimus-v-all-things-root/380801-guide-rooting-without-computer.html
3.Install a custom Froyo based ROM or Gingerbread based ROM using the first tutorial mentioned above^.
Harmonia and Bumblebee are the best Froyo based ROM's that are still supported. Any IHO-CM7 ROM(Gingerbread ROM) will have most every thing working and will get updated(little problems fixed) regularly.
4.Try to figure out all the new things that a custom ROM can do.
5.Try to figure out all the neat apps that you can use now that your rooted
6.-10. Discover new ROM's and new friends here in this forum.
Welcome gadgetmonster, we are truly friendly and helpful. If you need any advice,or just need to ask a question concerning your new Optimus "V" feel free.
The "All Things Root" section is were you will be able to get the best advice for Rooting,Recovery's,and ROM's.
This section is good for all your general phone problems not associated with Rooting,Recovery's and ROM's.
Remember: we get freely so we give freely. As your knowledge of the "V" grows you can use that knowledge to help new members less knowledgeable than yourself(if you want to)
I hope you will enjoy the time you spend here and make plenty of new friends.