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If you can tell us what work it needs and perhaps throw in a few pics, or perhaps a description of the symptoms, it would be very helpful for you and us. More info in... more accurate advice out! If the car has been well maintained, 490K miles may not be an issue, unless its consuming oil like an oil-o-holic.
Who knows, perhaps, with this board's advice, you might be able to get that cream puff through another 510K miles! If that happens, I'm sure Volvo will grant you a position on their Board of Directors! (just kidding, but nice thought though).
I am running a 92 245 with 244.6K miles, so you are way ahead of me in the mileage department. That being said, at 236K, I tore this car apart and rebuilt almost everything. If you want to take this approach, focus on the suspension, that is where the greatest gains can be made.
Good luck and don't give up!
jorrell
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92 245 245K miles, IPD'd to the hilt, 06 XC70, 00 Eclipse custom Turbo setup...currently in pieces
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