I bought it last year (second owner), and couldn't be happier. Very solid, powerful, reliable, and smooth. Very fun to drive. I feel very safe in it, and therefore feel comfortable with my kids driving it. I've had to replace the alternator, that's all, but I have 175,000 miles on it, so what do you expect? Despite the mileage, it still runs very smooth, I imagine as smooth as when it was new. I love driving this car! I would definitely consider another Volvo on my next purchase. The only other fix was the gas cap cover, it no longer locks, but it's very minor and have yet to fix it.
Exterior style/look, solid feel, its power(Turbo!), and reliability. Leather seats are comfortable. Drives very sturdy. Paint job is outstanding! Been parked at work in the hot sun for 13 years and is still bright shiny red. I don't notice any fading, and people don't believe it's original paint job.
Interior design, particularly the location of controls (window, etc.). Control center for all windows is in the center as opposed to on the doors, and the cup holders are small & located right above the window controls in the center. If a drink leaks/spills, it'll spill on the electronic controls.