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I would like to share my personal experience on the subject of safety as it pertains to the rear axles and rear brakes used on Volvos with rear drum brakes.
IN OVER 30 YEARS OF WORKING ON REAR DRUM BRAKE EQUIPPED VOLVOS WITH TAPERED AXLE SHAFTS, I HAVE NEVER, REPEAT NEVER, SEEN 1 OF THEM BREAK AN AXLE SHAFT!!!
I am aware of 1 incident during a racing event where an axle broke back in the 1960's, but other than that, no direct experience with any broken axle shafts and we raced 1800 and 122 Volvos at dirt and pavement tracks.
I have broken the spider gears in 1 rear end and helped break a posi in another Volvo. I even managed to break the welds securing an axle tube in my 122, but I have never broken an axle shaft.
I have replaced many axle shafts for customers, but in most cases that was due to damage done when removing a stuck brake drum.
I have seen cracks in the surface of some axle shafts and have changed them because they looked serious.
The stock rear brakes are quite adequate and in fact the Ford conversion you reference uses the exact same sized brakes and I can get brakes shoes with performance linings for both styles of Volvo brake shoes.
All the needed parts to maintain all of the manually adjusted rear drum brakes are still available and I usually have everything in stock, except for brake drums.
I don't stock brake drums for several reasons. 1st, it is very rare that any of my customers has to replace a brake drum because of a failure that requires immediate replacement like a crack, so we usually have plenty of warning and therefore time to order new drums when needed. OE Volvo drums are quite expensive and since they don't move quickly. I often go over a year without selling any. OE drums are over $200.00 each, but a repros is now available for $100.00 each.
However, I always keep a good used set of loaner drums just in case.
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Eric
Hi Performance Automotive Service (formerly OVO or Old Volvos Only)
Torrance, CA 90502
hiperformanceautoservice.com or oldvolvosonly.com
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