I've ridden the Volvo train: 142, 244, 244 Turbo, 740 Turbo, 850
Turbo, and recently purchased a '92 Turbo for the wife.

The prior owner was not a mechanic, but he maintained it regularly,
which in the real world is about the best you can hope for.

The car goes down the road a lot better than her former 740 NA.

The car feels better, quieter, a bit more massive, call it more
Mercedes-like.

Problems I addressed in sorting out and correcting this reasonably
well-maintained car were as follows:

Adjusted valves: measured and replaced three of eight shims, and
replaced all of the rubber valve quieters.  It tapped / ticked before,
but not anymore.

Replaced water pump: it leaked at the top seal, and was a bit noisy.

Replaced timing belt, tensioner, and all three front seals (cam,
intermediate shaft, front of crankshaft).  I do this whenever I
acquire a used Volvo: great preventative maintenance.

Power-flushed all transmission fluid from automatic transmission,
using IPD hose.

New distributor cap, rotor, O-rings, wires and plugs.

New thermostat, replaced a few hoses.

I removed the intake manifold and inspected the wires / looms.  To my
joy, they had held up well and needed minimal repair.

Removed injectors, added new injector seals.

Cleaned IAC, throttle body and manifold.

New belts, and to quiet a squeal, I discovered that the power steering
pump was not square to the crank pulley: I corrected it using washers
at / behind the PS pump affixing bolts as shims, to change the aspect.

The light which illuminates the automatic transmission shifter was
out, and it was a major hassle to replace it: I wound up removing the
entire shift assembly to access it, but that's OK, working on Volvos
is the greatest therapy going.

She loves the car, and I too am happy with it.