The tensioner is usually good for 180K+ miles. The tensioner roller should roll without binding or wobble, it must feel smooth rolling with out 'hard' spots.
Check the roller for the Sbelt also.
Take off the oil separator box and check the hole through the block, it should be round and clean, ream off any residue on the bottom half. You could 'clean' the plastic housing in kerosene if you think there is sludge inside, or get a replacement. I would replace the 2 hoses for the oil separator while it is easy to do.
Klaus
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Proud owner of a 220S. If I had more room, I would have more Volvos.
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