I would not recommend any of the S70 years. I've had my 2000 for almost 2 years and here are my problems:
Two controller arms and brushings
Front and Rear Rotors
Thermostat for climate control
Engine Mount (twice)
Speaker Replaced (twice)
Parking Lights (recall)

Now for the stuff that I've had to pay for after 50k:
A/C compressor (bad clutch. no reason, just bad quality)
2 Freon recharges

What I'm putting off:
Engine o-rings (causes piston slapping.. I'm waiting to fix this.. may sell the car)

What will happen next:
ABS module dies
Driver’s side window is already starting to freak.
Engine will need another set of o-rings.

It's a Volvo and I wasn't expecting Honda reliability but some reliability on par with a 240 would've been ideal. I didn't include in my costs above the 12-16 times I've been to my dealer for repairs and the hours that wasted during my work day. Other models are catching up in safety and reliability has been my Volvo’s weak point. This model has the potential to nickel and dime you to death. IMHO.

JH