When I make a sharp right turn going over a bump (like turning into a driveway) with some speed, there is a loud twang sound (like a spring). what could this be? i also hear the common clunks. if i do nothing, could it fail causing a major safety issue?

KY is right about the end-links for the clunks...but the twang? That sounds like a bad spring seat. You'll have to take the struts out to be sure. If you're near a strut replacment anyway, I'd get new spring seats, strut mounts and struts along with the end-links. Did this myself earlier this summer and my car drives like new with no more front end mush, twang, clunk, crash...

www.shox.com is your friend.
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1998 S70 T5 Emarald Green Metallic, 2004 V70 2.5T Ruby Red, Previous Owner of Black '94 850 Turbo Wagon

thanks all for the responses. well, I guess I'm glad to say I traded in the S80. it was sad to see it go, although given all the headaches I've had, as well as those ahead of me, I'm sure it was the right decision. over time I've had a bunch of suspension items addressed (sway bar, link rods, bushings greased, shock absorber), as well as the MAF, throttle body, distributor cap (?), two sets of rotors (at only 5K miles), and even the gas tank (which leaked!). I had to choose between trading in the S80 (70K miles) or the S40 (45K miles). The S40 is so much of a simpler car, I hope it will be far less prone to issues than the S80. But I do miss that luxury feel...

Read the enty Front End Clinking...sounds like the fix was sway bars end links..you must remove the links to PD..(problem determination)..it is safe to drive with the end link off for testing purpose...Good Luck