If it is any consolation we have had similar problems with our 99 V70 AWD. In our case the same symptoms you describe were diagnosed for me as a transmission problem, although we have had the oxygen sensor replaced twice as well. Keep in mind also that except when the "ABS" indicator is on the car drives normally and does not seem ready to stall, explode or spontaneously combust. When certain indicators come on the car does drive sluggishly.
I was told that a speedometer/odometer failing to work, ABS light, brake light, etc were the result of sensors within the transmission failing. So we have had extensive trans work done (at 70,000 miles) but are still experiencing problems.
Best of luck.
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