Hello Steve:

The '92 945T I used to own with similar mileage to yours had a catastrophic pump failure (it failed in an airport long term parking lot at midnight in a rain storm). It was a front bearing failure that resulted in near total fluid loss in a manner of minutes.

I had the local indy Volvo shop remove the pulley from the old pump and install it on the new one for $20. When the pulley came off the old pump what was left of the bearing cage and several ball bearings fell out into the tech's hands!

I only heard the faintest groaning noise before it died completely, so you may be on borrowed time...

Good luck!