Originally Posted by shinobisoft
ROM Manager, any version, is the wrong way to go about installing a recovery for any Optimus One device. My tool, Android Flash Recovery ( link is in my signature ), and LGMDP are the safest ways to install a recovery for these devices.
You can download CWM 22.214.171.124 for P500 here
Android Flash Recovery and LGMDP both require LG's official drivers to be installed. Both are Windows only applications.
... or use flash image GUI app if access to PC is somewhat limited
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RIP Long live Optimus One