Tried it on my LG-E610. It has the GPU mentioned in the OP, but the result was not successful. After the boot animation the display flashes continously between bright white and gray horizontal lines. Hard reset doesn't work, and Winblows 7 no longer recognizes the phone as anything other than an empty USB mass storage devive.
It's good the phone isn't an expensive thing, so I'll just buy a new one next week.
Did you make a nandroid backup? You could restore from that. Or you could just transfer a flashable rom to your microsd card and then boot into recovery and install the rom. It should work again.
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