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Don't dispair!!! The T5 is a worthwhile project. Fixing the oil separator and brakes is normal. But first, clean out the PCT nipple near the turbo intake. It might be clogged and solve most of your leaking oil.
Go with stainless brake lines and DOT4 fluid, just buy a quart at the autoparts store. so you can flush it all out when the new lines are in.
Get some new vacuum elbows.
Drive it gingerly for a week or so and watch for decreasing oil leakage.
If the price of gas goes up??? The T5 should get you 22 around town and 28mpg on the highway. Not bad for a go-fast car.
Verify the T-belt was changed, every 70K miles or so. This car has been neglected for a while, so don't be surprised if you find some more shoddy work. Just be happy that you have a T5 :)
Klaus
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Proud owner of a 220S. If I had more room, I would have more Volvos.
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