Don't get me started. I'm the original owner of an 850R wagon which I still have, and we went through both a 2004 V70R and then a 2005 V70R (Volvo worked a deal on the 2005 to prevent us from lemoning the 04) which we then sold 11 months later after a boatload of problems. In the meantime, the 1996 keeps on chugging along. The 2005 was a 6MT after we had the auto on the 2004 but then learned of severe torque and rpm restrictions they placed on the engine with that tranny (and did not tell the buyer or publish that information). I'll never buy another Volvo after the V70R experiences.
Some may remember the dark blue V70R I ran at some VIR events back in 2005...it did perform better than one would expect on track until you really push it hard and the Haldex AWD unit trips offline due to overheating (which is easy to do with it when you are really pushing the car hard). The crazy thing is they give you NO WARNING it is going to shutdown. It just goes offline, and the car is instantly FWD. You can imagine how "interesting" such a happening could be tracking out of hog pen on the limit for example. I was fortunate that when a shutdown occurred, it was entering Oak Tree. When I tried to roll on power, the tach just zoomed. I thought I had blown the clutch, but it was just the inside front tire now spinning like crazy. This is a dangerous design issue in my opinion, and I have communicated that directly with Volvo through a corporate contact (like they cared).
I could go on about other issues when tracking the car and add to that list the long line of warranty repairs the car needed from the heating system failing at 800 miles, to the passenger seat WHIPS system breaking and causing the seatback to rock back and forth, to the 2004 stranding my wife on the road, to the exhaust system that thermally deformed in a hard rain and pushed into the driveshaft (common problem on these cars), to a rear axle bearing failing at 12k miles (common problem on these cars), to the rear suspension toe-change on compression design issue that causes the tail of the car to side-hop when hitting one side bumps (common to all S60R and V70R since it is a design issue -- Volvo tried to address it with updated bushings, but they did next to nothing in my experience), etc... This list actually goes on a good bit further...sigh.

Oh, forgot about the thing having a 44 foot turning circle -- you never get over that when you drive it, and my wife HATED it.
We cut our losses on that 2005 in Dec of 2005 and sold the car to a wholesale dealer.
Oh well, I guess I did get started...sorry.
Here's a link to a brief video of the 2005 R at VIR South:
http://www.tradebotics.com/V70R/VIR%20Grand/MVI_8201.AVI
Chuck