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Volvos are durable, though not always reliable. In other words, they will break down sometimes, but can be repaired and will last pretty much forever.
I'm afraid that I cannot comment on issues specific to AWD S70s other than that I understand that it is important to rotate the tires so that their circumference remains the same.
Your car is brand-new and I would definitely keep it. In fact, if I weren't located in Europe I would be talking to you about a swap with my S70... If what you're after is a reliable car, look at Toyotas, not at other Volvos. Do keep in mind that depreciation is nearly always more expensive than repairs though.
HTH,
R
'99 S70 2.0 NA, 236Kkm
'89 745 378Kkm
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