I've put a little over 25000 miles on my White S60 since May '04. I am pleased. The exterior is excellent and the interior is very nice. My only negative would be the lack of legroom for back seat passengers. The ride is nice -- firm, but smooth. Positive steering feel and very responsive brakes. My gas mileage has been better than expected; about 27+ mpg average. Straight highway is around 32 - 33 mpg. This car is based in Texas; the air conditioning has no problem cooling the cabin quickly and comfortably. Generous, very large trunk. Mechanically, everything has been fine, so far... Fit and finish are excellent. I got $5000 off by waiting til the end of the model year.
Body style. Paint. Exterior fit and finish. I've kept up with the washing and waxing -- this car still looks fresh off the showroom floor.
If there was a way to exchange some of the generous trunk space to get more back seat legroom -- that would be an excellent improvement.