I acquired a P880 last year as it was a top specced quad core phone as Samsung S and HTC Top models. There was quite a few updates until it stopped with 10h in December and android 4.0.3. The software update function in the phone even ceased to work, it was just hanging forever.
I also tried with LG Mobile Support Tool. Not really a stunning tool, but I checked every now and then for an update. Just recently I managed to catch a new update and now my LG P880 runs android 4.1.2. It is a very nice update, everything seems nicer and smoother so far. However, the question is, where is android 4.2 or 4.3 for my device ? I hope they are coming......
With 4.1.2 the LG software version is P88020b-EUR.
The hint here is that if you want to update your LG P880 and you seems to be stuck with old android version in the built-in utility, try the LG Mobile Support Tool.