Official LG Australia promotional page on the device
Official LG Australia software downloads software downloads page
Default ROM comes with Android 2.3.4
Refer to the official support page above.
Alternatively, it has been reported that the drivers will automatically install when using Windows 7. The phone downloads this file which is an installer. You need to select 'Install USB Driver' (it doesn't look like a button until you mouseover it), and select the phone model (LGP690F).
An unofficial mirror of the Windows 7 driver is available available here.
Ad Hoc Wi-Fi appears to work with the “generic” Serval Mesh profile.
It is possible to use Unlock Root to gain root privileges on the device.
Instructions and alternate download links are available in this XDA Developers forum post
It is possible to install CyanogenMod 7, and it is recommended to take a backup of the ROM before flashing using the tools provided by the ClockworkMod recovery image.
Copy the CM7.2 ROM on to the SD card and install it using the tools provided by the ClockworkMod recovery image.
The Google Apss package is mirrored here.
Thanks goes to xrobau for the initial instructions and unofficial mirrors of the files.