A factory reset is just a data reset - it will remove all user apps and data and set system settings to their defaults. But that is all it does - it will not change the currently-installed system software in any way.
There are ways of reloading stock firmware on android phones, but my experience is with HTC so I cannot tell you how to do this for an LG. Perhaps somebody else will have an answer. Otherwise, we do have a forum for this device, LG Optimus 3D - Android Forums, so maybe there will be information on that there.
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