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The 940T is simply a better car overall and why? It's more dependable and cheaper to keep in the long run. I own one myself yet repair (now) mostly newer FWDs daily and any FWD Volvo will cost you more to keep in the long run.
As for power, the B230FTs are easily, cheaply tweaked to gain ALOT more power than stock. Mine blows away most stock V8 cars and I prefer RWD anyday. In winter, arm the car with 4 Blizzaks and you're going anywhere that the AWDs/SUVs go. I'm usually passing those guys in Blizzards here.
Even IF your 940's now tired or in need of replacing, I'd buy another nice, lower mileage 940T anyday. I'm planning to keep mine (at least) another 10 yrs.
Now, IF the newer SRS safety features are important to you, that then is another issue but I'm OK with my older car as-is.
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