I bought an s60 in November of 2010.
It's the t5, 5 speed automatic.
I am absolutely in love with this vehicle.
I bought it with 127k miles on it in Arizona, its been driven around there and then across the country to Arizona.
Most people would be hesitant to drive a car with 140k miles on it another 2000 miles, across unfamiliar ground, but the car did great.
Great range, averaged around 29 mpg on the trip.
Great sound system, comfortable, handy on board computer system to check information.
I did put W rated tires on it about a year ago (speed tires), and I noticed that the cornering and stability increased ten fold.
A bit expensive for parts, but you pay for quality. Great for all
Loved the quickness of the car.
The look of the car is absolutely phenomenal.
The hood is well designed to make the car have a sports sedan look to it.
I have an aftermarket spoiler on the back (about 6" high) that makes the car look even better.
Roomy interior, great dual climate control, and very snappy acceleration.
The 2002 s60 was on Top Gear UK and they actually liked it.
What else can you ask for?
Too hard to turn in a parking lot.
The 17" rims on the t5 make them rub, and that is definitely not good.
Granted, its something that you can fix by simply steering wide.