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YoHee,
I have been running a K&N air filter on my '98 S70 GLE for over 1 yr now. It'll not void any warranty. In fact, it'll save you $$ at the dealership because you won't have to buy anymore air filter for the next 1,000,000 miles. As for resetting your factory ECU, Volvo does that at every MAJOR service ( I just had my 96k MAJOR service done yesterday ). Even before the factory ECU was resetted, I still could feel a difference, so in your T5, it should make a lot of difference.
Hope that helps,
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Kenny
2001 Nissan Pathfinder SE; 1998 Volvo S70 GLE
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