When you say pan drain do you mean just pull the plug and drain what will drain and not do a complete flush?

According to Page 1A-3 of the Haynes UK Workshop Manual for the S40/V50 (years 2004-2007):
- Every 12,500 miles or 12 months - check the automatic transmission fluid level
- Every 37,500 miles - renew the automatic transmission fluid. The suggested procedure (on Page 1A-9) is a basic "Drain and Refill", and not a Flush.

This manual states: "NOTE: The automatic transmission fluid does not normally require changing. It's only necessary on vehicles that are used predominantly for towing or as taxis."

Does this car have a dipstick?? It is not easily found compared to my V70/C70? Thank you.

You should have a small round yellow dipstick "handle" hidden beneath one or more hoses and cables at the front of the transmission. It may be easier to spot from underneath the car. To refill, you must disconnect the oil cooler hose from the return port on the top/front of the transmission, connect a hose and funnel to the port, and add transmission fluid thru it.

I have been told that some S40s might not have a dipstick. So you may have to measure what was drained and refill with the same amount. Here is a link to a similar question on an S60R transmission refill... with images:
http://forums.swedespeed.com/showthread.php?161084-Transmission-Flush-Advice&highlight=transmission+dipstick

NOTE: If you are looking for a DIY shop manual for this car, I recommend the Haynes UK version. I posted a review here (click the Product Review tab): http://www.ipdusa.com/products/6252/9l4731-haynes-manual-for-p1-s40-v50

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