You are correct in your premise that higher revving engines need better quality oils that do not break down with the additional heat. But, the Volvo engine is a high revving engine that people drive around town at 1500-2000 rpm. The valves clean themselves of deposits when the revs are high enough to allow the valves to 'rotate', usually above 2200 rpm.
The synthetic oils do not loose their viscosity over time, allowing more miles between oil changes. Because of the better quality, the engines stay cleaner and leave fewer deposits on the cams and other parts that get 'sprayed' with oil. Synthetic also keeps the PCV system cleaner.
Using a 5W30 is quite good, especially in colder climates where 10W gets a little thick in the winter time.
The only time switching from regular to synthetic oil presents a problem is when the owner never revs up the engine or fails to change the oil frequently, allowing sludge to build up and cover the seals. The seals tend to dry up under the sludge and wear out. The synthetic might clean out the sludge over time and then the seals will leak.
But leaving the sludge in place is also detrimental. It will close oil passageways in the block, clog the hydraulic lifters, and cause premature engine failure.
With the engine off, remove the oil filler cap and look at the cams. Are they nice and shiney or brown and black with sludge. If the later, I suggest you use a bottle of AutoRx ($20) and drive 1-2,000 miles in less than a month. Follow that by switching to synthetic and a good oil filter. Follow the directions on the bottle and your engine will be sludge free and much happier.
Of course, you might get an oil leak. But fixing a leak is usually better than replacing an engine.
Klaus
PS, if your car is subject to lots of short trips, less than 15 minutes and at low speeds; down shift to get the revs up and the oil temps above 212F.
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Why are Volvos so endearing? Its just a car.
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