I have a 98 V70 GLT so I can speak with some experience.

In the GLT, the sunroof is standard but the leather was NOT (in '98) ... but you'd be hard pressed to find a GLT anywhere without leather.

Mine is pretty well loaded ... my must haves would be the cold weather package (which includes the TRACS, heated seats and headlamp wipers. The first winter day you put your butt in those ice cold leather seats moves this option to the very top spot. Of course, if you live in a warmer climate then it is probably not needed.

I would also look for the in dash CD player (SC816). Nice sounding unit and easy to operate. The other nice acessory feature I have is the cargo cover, which allows you to hide your shopping trip spoils from the public eye (think window shade for the cargo area). Finally, if you ever haul anything the euro roof rails are great. We've done everything from drywall to christmas trees to bicycles to ladders on top. Very strong and well-engineered system.

The other things I have ... front fog lights (essentially useless but look nice), power passenger seat (ok), woodgrain dash trim (strictly looks), trip computer (cool gadget), etc. is a matter of your personal needs and tastes. I view these as nice to haves, not need-to haves, but now that I've lived with the plastic wood for a while most other Volvo's without it look kind of naked.

If you have more than 2 kids, get the third seat. I found out quite quickly that three can not peacefully co-exist in the second row. Mom's taxi duty is now performed by the new Odyssey in the driveway.

Personally, I do NOT like the look of the rear spoiler. I might feel differently if I had a T5 or R model.

There are really no options out there that would have prevented me from buying the car.

Whatever you find, insist on maintenance records. These cars can be very fickle and a good maintenance history is a MUST for longevity.

My $0.02.

Good luck!