I've yet to work on my Volvo brakes. But on most cars, if your just replacing the pads, you don't need to do anything to the brake hydraulic system. So, you can probably get by without the power bleeder and brake fluid.

However, if it has been 2 years since your last brake fluid change, you should consider doing that anyway. And the power bleeder does make it rather simple to flush out the old fluid.

As for the rotors, I don't know if Volvo rotors can be machined. If they can, it would be a good idea to have it done. Or, if you think you'll own the car for a while, just buy new rotors and replace them. But save the old rotors. If the old ones can be machined, have it done, and keep them in the garage for the next change. New pads always do better with new or machined rotors.