I'd say it depends on the quality of the Volvo dealers around you. Our '06 S40 T5 AWD was in the shop around 15 times in the 2 years we had it before we finally traded it for the MINI Cooper. I really got tired of having to take it back time and again for having the same problems, and even then the dealer didn't really *want* to fix it. Once it was there because the brake booster pump started getting really loud to where it sounded like the bearings in the pump were going out. The service director said it's nothing to be concerned about... that if it went out and the brakes stopped working, you just pull over and use the emergency brake to stop... that's what it's there for. :Wow1:
Also had it in with only 13k miles on it with squealing brakes, only to have them give it back to me 3 times saying there's plenty of pad left. I asked them each time to please replace the pads, I don't care how much is left, it's probably a defective set. Wouldn't you know the 4th time I had it in for that issue, replacing the pads fixed the problem.
My sister-in-law still has hers, which she bought a week after we bought ours. She's had various electrical issues, having to have it towed twice to the dealership from her garage because it wouldn't start and was doing all sorts of funky things. Hers is also the T5 S40, but without the AWD. She as well had so many issues with service I had to call the general manager (whose cell phone number I had after having so many issues with our Volvo) and get him to keep the car an few extra days until they fixed the issue.
Maybe ours were just lemons, maybe it's an issue since Ford started running the company and they've slowly been turning it into crap. I don't know. Your mileage may vary, but I'm never buying a Volvo again.