they all flash the same way pretty much, if you want to make a backup of the qualcomm chip, u can use a program called QPST, you make also be able to use LGNPST for this. however it shouldnt be needed, just get Flash Image GUI and use it to flash the recovery. I recommend the GNM recovery. it can be found here,
http://androidforums.com/getitnowmarketing/330813-all-one-recovery-thread.html
u can also use PlayfulGods CWM recovery, found here,
http://playfuldroidz.com/media/recoveries/LW690/recovery.img
they ar the best 2, you are probably familiar with CWM, the GNM is very good and fully functional, CWM may give you a sd-ext backup error, doesnt do it to everyone though. just make a nandroid backup after flashing the recovery, then there are a handful of great roms, i personally use Reppards CM7 build, if is fully functional right out of the box, just flash it and latest gapps, there is an issue with the included a2sd not working for dalvik to sd, but reflashing teh a2sd script over the existing one will fix the issue, just make sure you boot into the phone first before doing that. if you get rebooting isuues, lower the clock speed, it is preclocked at 729, most can run higher, few have to lower it, i can run at 825, if you are unfamiliar with partitioning the sd-card, make sure you copy everything off of it b4 you partition it, or you will lose everything, and then after partitioning you can move everything back. if you need any help, there are plently of people here willing to give it, including myself