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I have to agree with Bob, I would flush the hell out of it and do it while it is good and hot and then lube the kick down cable and insure that it is adjusted properly. If it is too loose it will shift too soon and it will shift too late if it is set too tight.
As far as what is the lifespan of an AW70, what is the lifespan of anything? I have seen AW boxes go belly up in 100K, unusual it is but I have seen it, the longest I think that I have seen is about 350K or so. I would say that the average though is somewhere in the high 100K area. They pretty much all need resealing in the 150K range. As far as what to look for, red fluid, worn out tailshaft bushings, obvious leaks, torque converters that have been painted funky colors (God only knows who rebuilt it last). Otherwise if the fluid is red and it more or less looks good you will have to roll the dice and stick it in. I personally have gone through 3 transmissions from the local Volvo boneyard to get a good one. You can be I was on their shit list for sure, but on the same hand I did not enjoy doing a trans 3 times to get it right and paid for once.
Anyhow, flush it and adjust the cable and go from there.
Mark
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