Usually people don't post anything here unless they are unhappy with the vehicles for some reason.
There really have been very few problem with this vehicle, of which I have owned 2. Both have been reliable, sturdy and safe transportation, albeit, somewhat ugly to look at.
As someone else mentioned here, you must remember to replace the flame trap every 1-2 years or so, there are some cheap plastic parts that tend to break apart, but most of them are on the interior and don't affect the engine. (see kickboard on the drivers/passenger door, interior overhead light, speaker covers, seatbelt clips, etc). The leather seats tend to wear faster than the cloth seats.
There can be issues with the brake calipers, where the pins can get stuck, and this warps the rotors. This is pretty easy fix.
Gas mileage is eh, so-so. Not terrible though. This is a non interference engine, so you don't worry about timing chains and blown head gaskets and such.
A/C compressor is broken, and I've chosen just to leave it as is and not fix it, because I live in the northeast.
Windows and moonroof work great, have never broken or died on either car I owned, which was a first for me.
Radiator plug wore out, and needed to be replaced (a $2.50 item).
A hose popped at one point, and antifreeze came out, risking an overheat (there are no sensors to detect this), but this was simple cheap fix.
Replaced 1 dead alternator.
For the price of these vehicles nowadays, if you can get one for less than $1400, even as high as 170k, I would snap it up, given someone who didn't just beat it to death for years and years.
This car has saved me a lot of money, while others go out and spend a bizillion dollars on newer fancier vehicles, this one gets me back and forth in exactly the same fashion.
It is sluggish 0-60, as many older Volvos are, (don't get the turbo version of this car) but cruises very solid at 60+ mph on the highway.
Excellent car, and I will drive for as long as I can, but not in the snow! :)