I used to work for Ross Converse building these cars. 100 hours on the first job sounds very realistic. There is just so much in the way of detail work, routing wires/hoses, mounting components etc. I got to the point where I could yank the B230 out and have the Ford motor and trans bolted in and aligned in about 5 hours if all went well. However that step represents maybe 10% of the total conversion.

One more note, I've driven non p/s v8 volvos and I hated them. Steering wes quite a chore. Given how easy it is to hook the ford p/s pump up to the volvo rack, I'd never consider not doing it.