My 2001 V70 (manual) wagon with 42K miles exhibits a knocking and clunking when driving over the slightest bumps or irregular surfaces. I've driven similar models that do not exhibit the front end noises I hear in my car.
This problem was noticable early on at about 5K miles. Sway bar links have been replaced by the dealer at 7.5K, 21K, and 30K miles. The problem subsided each time the links were replaced, but it always returned soon afterward. The dealer recently replaced a ball joint at 40K miles, but it did not resolve the problem.
This persistant problem reduces my confidence in the car and the Volvo brand altogether. Back in college, my Galaxy 500 at 100K+ miles made the same noises--but hey, for $500 I lived with it. At $35K for a brand new V70, I find the same noises and other problems (see previous year's posts), horribly disappointing.
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