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800 = 800 series. The second 5 is 5 cylinder engine and last
number is number of doors. Volvo used to pretty much keep
to that scheme in naming vehicles (there were exceptions) but
dropped it around the time the 800 series was introduced.
Many dealers and owners continue to use it. You may also see
"M" thrown on the end for manual transmission i.e: "98 S70 T5M".
The V70 T5 is going to be closer to a 97 850 turbo then a 97 R
model. The R model will have a (much) stiffer suspension then
the V70 T5. Engine performance would be about the same between
the two since the T5 got a bump in power in 98 (a 98 T5 is rated
at 236 HP and 241 lb/ft torque).
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