Hi, I have an 1996 850 GLE. After scouring websites both before and after i purchased it, GLE stands for Grand Luxe Executive. The main difference is that it has only 10 valves, rather than the standard 20 on the base 850 edition. This results in a 20-30 hp loss, but perhaps a small gain in mpg. I do not know if the suspension is any different. It seems not to hard and not too soft.

Personally, I love my Volvo. I love its alloys, the rear spoiler, fogs and all the other regulars of a loaded package.
Having said that, I do think the GLE is underpowered for such a car. It has fair acceleration once you rev it up, but there is simply no low end torque at all. (This car though, only had 34k KM on it when I bought it half a year ago and was in great shape - A real cherry pick)

Anyways, the next car i buy will most likely be an 850 Turbo or 850R, so I can get that power and stiffer suspension craving while still have the great look of the 850.

Just thought i'd throw in a comment or two ;)