I'm thinking of buying a '91 740 wagon with 125,000 miles. It's clean and runs well, but I want a more power. Please excuse my ignorance on this, but is adding a turbo relatively simple? Not too expensive? Is there a major difference between the 740s and the 740 Turbos?

Should I just wait for a 740 Turbo rather than doing a retrofit?

Roughly $2k for a nice job if you do most of the work yourself. You'd really need a 740/760 Turbo to pull a lot of parts from, but it could cost as little as $1000-1500 not including what could be recouped from parting the donor car. I'd only consider doing this to a car that I really liked and wanted to keep, or a car that I had already sunk a lot of money into. If you're buying a car anyway, find a Turbo and save some the hassle and money.
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Volvo 240 Links | Parts For Sale | Volvo 240 Racing | July 14th DC Area Auto-X

I came across a 740T that's pretty much intact at a VW shop. They stold the intercooler and turbo off of it and want to junk the car. I can get car, engine, tranny and all for $350. Will the turbo engine work in my 740 if I use my existing intake [non turbo]? That's the only thing I havent replaced yet in my current car, I know it's the next thing to go so I'm just trying to do a little shopping for when the day comes.

You can use the non-turbo intake manifold on a turbo engine, but you need to install the injectors from a turbo car that uses the same injection ('85-'89 740T used LH 2.2 Turbo and '90-'92 used LH 2.4 Turbo). Is that what you're asking? You'll need to swap the complete engine and wiring harness with ECU to the non-turbo car, but it will work.

You can buy a Volvo intercooler from a junkyard or on ebay for $20-50. A used turbo might cost $50-200.
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Volvo 240 Links | Parts For Sale | Volvo 240 Racing | July 14th DC Area Auto-X

If you are handy, it would probably be easier to build a small V-8 and drop it in. You could then sell the Volvo motor to recoup some of your expenses.
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2 8s & 2 7s 600,000 miles total

Save yourself countless headaches and costs and buy yourself a turbo Volvo. There are plenty of nice, affordable ones out there.

Roguls
New York, USA

It has been done, and it is being done. Check Vos' post of today, http://www.brickboard.com/RWD/index.htm?id=489504. This project is not for the faint of heart or thin wallet, and you must have great mechanical and electrical talents to complete it. If you want turbo power, buy a turbo car. Vos has access to one of the brickboard's finest mechanics for his project, and a complete supply of all the hard to get parts for the project. The engine, engine wiring harness, ignition ECU, exhaust, transmission, rear end, and more are different in the turbo cars.

You will find all the information you need about adding a turbo to an atmospheric engine on Turbobricks.

check out www.turbobricks.org