I wouldn't bother with it for now. The only thing it's useful for is making a backup of your current install. I just got an Optimus V over the weekend, and foolishly paid the $6 for ROM Manager Premium, only to find it did not offer alternate recovery (the CWM it installed refuses to install any compatible ROM for some reason, and it won't let me flash another recovery), the "Advanced Options" do not show up anywhere, and most importantly- it shows NO available ROMS for me, only gapps and 'extras'- no ROMS. I've already emailed the developer. I should have checked here before buying, but live and learn, right?