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The damage doesn't look all that serious (Although serious enought to total the car for insurance pruposes), and the car looks to be in very nice pre crash condition, so I'd say it's worth fixing!
It is certainly possible to repair such damage to a high standard at home or at a body shop, although you should get the chassis alignment checked before anyone tries to repair the damage.
I read an article in a UK magazine where someone had the same kind of damage on their 745, which they repaired by cutting the whole front corner from a donor car, welding it onto their car, after cutting out the damaged area. I think I still have the article somewhere. I'll take a look for it if you like.
If you can get a 1990> model donor car, you will be laughing as if they are good you can use the hood, fender, bumper etc from the donor. as well as the front corner.
Good luck!
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Volvo For Life. And then some...
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