Well, since there are those who will be sour around here (yes, i do find that this site seems to have more unhappy owners than other volvo sites), i'll say the following:

I have a 2000 S70 AWD. Granted it's not a V70, but it's basically the same. It's been a great car--and reliable. I'd buy another.

Would i buy one off lease? Only with the service history that satisfied me--but same goes if it wasn't leased. Look at the whole car and you'll see how well it's been cared for.

Consumer reports has indeed knocked the series, but there were some modifications done for the 2000 model year, although minor. FUrthermore, they've knocked the AWD, but i haven't had a single problem (read "zero") with the AWD system. It's worked great.

The extra head/side airbag came in the 1999 70 series models. Before that it was just the side airbag (smaller bag that didn't go up to the head). In 2001 they introduced the side curtain on the V70. I'd go for 1999 or later for the same reasons you indicated.

Good luck!