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The S80 is a LOT larger and much more 'luxury' oriented. I would call this a luxury sedan, though not as luxurious as a 7-series BMW, more like the 5-series.
The S60 is more 'sport' oriented. Like a larger 3-series BMW.
There are no widespread reports of problems on this board for any of the 2003+ cars, except that the T6 engines are very hot and the high underhood temps can cause stress - rubber deterioration, wire insulation deterioration, etc.
All the computers make these cars a bit less DIY-able. If you're interested in that, consider ponying up for a DICE tool
http://volvowholesaleparts.com/partlocator/index.cfm?action=AccessoryCatalog&catalogid=1051&siteid=213784&categoryID=1052
You can get one for under $500 if you take your time and look around.
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1998 V70 AWD->FWD Turbo 200k+
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