Check the 700/900 FAQ feature section on this site and way down near the bottom you'll find a link to B234F timing belt procedures, tips/techniques and the parts you may want to replace. Next best thing to the Volvo green manual it's been said.
As you are replacing the back timing cover and thus have all the gears and pulleys removed then it is indeed a golden opportunity to replace all the oil seals -just make sure not to score the shafts and to seat them nice and evenly, not too far in. Be sure to always replace the oil pump pulley bolt at every change -this is the most failure prone part and most Volvo shops know to do that routinely.
If the engine is still on the original tensioner/idlers then it probably would be a good idea to replace all of them at your mileage whether they appear to need it or not. Many people do indeed change all the tensioner/idlers at every belt change just to be safe, but I don't think you'll find Volvo shops doing that on spec unless there is some indication of wear or extended mileage. Many people simply check them carefully before replacement and perhaps check them once or twice before the next belt change. Personally I would only trust old idlers for a maximum of 3 belt changes and then only if they continued to spin very freely, ran absolutely smooth (no wear ridges in the raceways) and showed no other signs of wear (no side slop). The bearings are sealed, if they don't spin freely you may want to try rinsing off any external grunge by spraying with a little WD-40 before writing them off.
Yes, it's an interference engine, but in this day and age that's certainly not uncommon and you really don't need to overly worry or get carried away as long as you perform regular service and are aware of a few specific weak points in the B234F timing belt setup. Having an '89 you indeed have the manual tensioner and you should re-tension the belts after a break-in period. Also, having an '89 you will may still have the original balance shaft belt tensioner pulley with the black plastic teeth -these tend to disintegrate with cold temperatures and with age so check for it and replace it with the updated all metal pulley if needed (see the FAQ).
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Dave -not to be confused with a real expert
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