Should be much better. The Optimus V only has a 600mhz S1, this phone as the next generation 1ghz S2. Its the same processor used in the Xperia Play, HTC Thunderbolt so its not exactly new, but a lot better than what you have currently. Besides the higher clock speed this phone also supports ARMv7 which is pretty much the standard on newer devices and some apps won't run without it like Adobe Flash/Air, games like Temple Run, etc. This phone is one of the few cheap prepaid phones I've seen with ICS so that alone makes it worth it.
Thanks, that's what I was thinking. For 30 bucks, it's worth a shot. If it sucks, I can sell it, if not, I can sell the OV and basically get a free upgrade.
It ain't what you do, it's the way that you do it.