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While you have the head off, and if you are interested in increasing stock performance, now would be the time to port/polish and do a three angle valve job. I have never seen the head pulled on a turbo car before, but I believe (based on what I've read here and in Haynes) that it necessitates pulling the turbo as well. So have that checked as well. The 700/900 FAQ (from the "features" pull-down menu at the top of this page) should tell you how to check the turbo for excess play. If it is dead or close to dead, you can probably have it rebuilt for several hundred dollars less than what you'd pay for a new one. Turbo City is one of many places that offers this service.
I second the other poster's suggestion to check all of your hoses and the radiator. The radiators on these cars have plastic end tanks glued onto an aluminum core and cannot be repaired. The popular replacement is made by Nissens, is all metal, and is about 1 1/2" times thicker than the original. It is also a three-row and is serviceable. I bought mine from RPR Volvo Parts in Albany, California, for about $200.
The 700 series also has a plastic heater control valve. When these fail (usually without warning), it is ugly. They have been responsible for head gasket failures and other problems caused by overheating when the valve fails. Metal replacement valves are available.
Also will want to check the rear suspension. The torque rod and trailing arm bushings often need to be replaced on cars of this vintage. Even if they don't look shot up on the rack, they should be replaced if the brick has more than 150K miles on it. You would be amazed at what a difference it makes in the quality of the ride.
"Turbo brick", as the name implies, refers to any turbocharged Volvo, but is usually reserved for the older 200/700/900 series "square" RWD turbos. "Brick" is a more general moniker for the old Swedes, turbo and normally aspirated alike.
Some other Volvo sites that you might want to try: www.swedishbricks.net, www.vclassics.com, www.swedishclassics.com, www.ipdusa.com.
-Jim
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