Nah.
The 2721 is the correct bulb for the rear ashtray light in a 200 series Volvo. It is more than an ashtray light; if you leave the ashtray shut, it does a fair job of getting the rear footwells out of the shadows at night.
Because of its poor reliability, I think anyone who has owned a 240 for any length of time is familiar with the 2721 in most of the places it is used. The automatic shift selector indicator is famous for thrashing that bulb into early demise.
They are in the accessory gauges like the small clock, ambient temp, and voltage gauge. They illuminate the light pipes behind the heater controls and make the rocker switch panel visible at night. They are used in all the lighted switches, but interestingly NOT in the instrument cluster.
Bill your 940 (did you ever own a 240?) got rid of those tiny wedge base bulbs and their troublesome sockets. You should be thankful.
The part number you found in the "1993 94 User Manual" (what?) is for a lamp used in a 240 cluster for warning lamps. It is a T1-1/4 bulb, but has a twist lock base, not the wedge base. Its only use in a 240 is for warning lamps, such as oil pressure, etc. They are very long lasting because normally they aren't powered on. And the socket makes a reliable connection to the cluster circuit card. If you have someone buy a package of ten of those, I guarantee they'll have 9 leftover forever and possibly all ten.
The nighttime panel illumination is yet another twist lock lamp, holding a much larger T1-3/4 wedge bulb through 1988, and thereafter a 3W halogen W165. That's a troublesome bulb because most of us turn that cluster illumination all the way up and use it day and night because we leave the headlight switch in the auto position. And those bulbs are not cheap, nor are the LED substitutes effectively aimed.


--
Art Benstein near Baltimore
"Hanging is too good for a man who makes bad puns...
....he should be drawn and quoted."
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