I've ridden the Volvo train: 142, 244, 244 Turbo, 740 Turbo, 850
Turbo, and recently purchased a '92 Turbo for the wife.
The prior owner was not a mechanic, but he maintained it regularly,
which in the real world is about the best you can hope for.
The car goes down the road a lot better than her former 740 NA.
The car feels better, quieter, a bit more massive, call it more
Mercedes-like.
Problems I addressed in sorting out and correcting this reasonably
well-maintained car were as follows:
Adjusted valves: measured and replaced three of eight shims, and
replaced all of the rubber valve quieters. It tapped / ticked before,
but not anymore.
Replaced water pump: it leaked at the top seal, and was a bit noisy.
Replaced timing belt, tensioner, and all three front seals (cam,
intermediate shaft, front of crankshaft). I do this whenever I
acquire a used Volvo: great preventative maintenance.
Power-flushed all transmission fluid from automatic transmission,
using IPD hose.
New distributor cap, rotor, O-rings, wires and plugs.
New thermostat, replaced a few hoses.
I removed the intake manifold and inspected the wires / looms. To my
joy, they had held up well and needed minimal repair.
Removed injectors, added new injector seals.
Cleaned IAC, throttle body and manifold.
New belts, and to quiet a squeal, I discovered that the power steering
pump was not square to the crank pulley: I corrected it using washers
at / behind the PS pump affixing bolts as shims, to change the aspect.
The light which illuminates the automatic transmission shifter was
out, and it was a major hassle to replace it: I wound up removing the
entire shift assembly to access it, but that's OK, working on Volvos
is the greatest therapy going.
She loves the car, and I too am happy with it.