I just did this job on an 850 (very similar to S70), so I'll give my experience. If you've worked on 240s for years (like me), you shouldn't have too much trouble with it. It did take a good while to do--probably 4 or 5 hours--but nothing was terrible. I used basic screw-type hose clamps and everything seems fine. Probably the most difficult thing is getting your arm under the intake manifold for the dipstick bolt and the support bracket bolt. I carefully removed the fuel rail from the manifold and put it back in but, as Klaus said, you don't have to. If I was doing it again, I think I'd leave it all attached.
Good luck!
Nate
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1997 850, 1979 242GT, 1990 740GL
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