Comparing to 2002 V70XC I traded in for it, it's a mixed bag. Interior feels much more luxurious and refined; also appears somewhat roomier. Exterior design mostly improved on the previous generation, except for those silvery things around fog lights. Actually on mine - painted Electric Silver - they look OK, but on darker cars they're outright out of place. The engine - 3.2 inline 6 - is nominally more powerful than the T5 on previous generation, but feels not as peppy as the older one. Gas mileage is not as good, too. The transmission feels more smooth-shifting and refined. The suspension is tuned more towards ride comfort rather than spirited driving style.
Everything except the engine.
BLIS actually already saved me from quite a few angry honks and finger salutes.