I just purchased the 2008 3.2 S80 (I have had it for 48 hours); I like the look of the car interior and exterior. The car comes up short with the handling; it has a floaty feel to it and I live in Europe and have driven Audi's, Passats and Lancias. These car have great pick-up; this car does not; you learn a lot about a vehicle when taking a trip from Germany to Italy through the mountains at night. Overall I have to say it is a nice car but the suspension needs work; Turbo is necessary if you want to get that extra kick when you need it. Also, some features should come standard with the car, e.g. blue tooth, front and rear warning detection for parking.
The interior; absolutely sublime and elegant (enough room for 6' 7"); it makes you think you are in a shop where your mother will say, "Don't touch anything!!" The normal sound system is very nice; Dynaudio must be phenominal. The look on my ex- girlfriend face when she saw I had bought this car.
If Volvo wants to compete with BMW, Mercedes, Audi and Lexus they need to work on the suspension (soft and floaty) as well as the power (in europe we constantly get into races and I have lost several to smaller engine cars; (get more oomph in the 3.2 or ditch it for the Turbo).