The mudguards shouldn't be too expensive... and they do look good... they fit the car well (we have the V40). They were only $45 but then again it was factory install. Don't know how much the dealer would charge for them. The rubber mats are awesome. We got them in anticipation of our trip up to WI this week. We have the taupe interior and we got the tan trays and they fit the car very well.
The best performance enhancement I've seen discussed is the TME exhaust (cat back) upgrade that stateside is sold by www.ipdusa.com. From all experiences posted on the board and from TME and IPd claims the system gives you 10hp and 12lb/ft torque and allows the engine to run much more smoothly with better throttle response and improved gas mileage when driving Miss Daisy.
It's an upgrade I would love to do on our V40 someday! We have a 2001 and in the meantime it's awesome as is.
Another one is upgrading the stock US wheels (they're nice but could be better, like the Cyber wheel available in Europe or the other 16" option (don't remember the name)). And you could install the lowering kit from Volvo or from IPd/TME (www.tme.com).
Alberto
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