This is the last of the all-Swedish Volvo, and the turbo and AWD make for an impressive package. I believe this car got lost in the confusion over Ford sale. Agree with many of the past reviews, but the turbo really does give impressive performance to what is a somewhat heavy car. Handling is sure no sports car but not bad either. I bought the car new, then transferred to my mom, who still has it, so we have a good perspective, and the car runs well at 80k miles. On the other hand, the car is noisier than it should be at highway speeds and engine vibration is noticible.
Flexible interior with 60/40 rear seats and large trunk. Very solid feel, but not underpowered. AWD does very well in wet conditions.
As others said, repairs and routine maintainence (which is needed very frequently according to the manual) are expensive. Sometimes the warning light is not joking, and my mom had a $2,000 dealer repair at 50k miles.