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The expensive parts on my '85 are the wiring harness, the Mass Meter, the Computer, and the turbo hoses. The thing I found about volvo's is that some parts are built to last and are user friendly and other parts (like switches and interior plastic) can't keep up with age. Somethings drive me crazy - things that really shouldn't be plastic - and the biodegradable wiring is a pain.
I would check out the wire harnes at the A-posts - not sure if the bad wiring exists on the 88 but I believe it might - that stuff just rots away and then you are in for 300+ for the volvo harness (unless you spend a weekend doing it yourself which is the route I took).
My volvo is a wreck at the moment as I try to troubleshoot a rich running engine - but I love to work on machines and I get more joy out of tinkering in it than most people - I also have a great shop that helps me out with parts and knowledge. So I think your personality has a lot to do with it and if you have the time and resources - economically you never win with cars, used or new - you always feel like they are too expensive!
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