I am completely happy with the xc60 so far. Both the exterior and interior styling are great and the ride quality is nice. I have encountered a few minor quirks which I hope will fix themselves (the doors didn't lock once when I started moving, the optional collision warning sounded once when there was no one near me, and a little piece of plastic fell off the tailgate that I simply had to pop back on). Other than those very minor problems, I love the car and am completely happy with the purchase.
Styling is great and has sufficient power. Handling is good and has a comfortable ride. The optional Dynaudio system sounds great.
Navigation could use some work. Better fuel economy is a must. And iPhone 3G doesn't seem to be compatible through the USB connection. I also wish Volvo offered auto-dimming side view mirrors.