Volvo's quality has gone wayyy down, but it's coming back up now.
I have a 67 Volvo, and everywhere I go people say "you cant kill an old Volvo", and it's true. They had the red engines that went FOREVER!
There's a 1966 Volvo with the worlds highest mileage (2.6 million miles AND COUNTING!).
The 850 was really the last of the good Volvo's.
The S/V70 series starting having the cheap stuff put into them. The 5cylinder engines are very good, so are the trannys.
Then, the S80 was a product of Ford. And they're horrible. As beautiful as they are, they're no good. Transmissions last about 60k (it's a GM tranny, they should've just stuck with AW), the engines are still very good. The bodies are still safe. But the electrical system is a nightmare. And trust me, it's WICKED expensive.
You get into year 2005, and the S80 is perfected. Read the reviews, it took Ford 6 years to work out kinks but the 05+ S80s are excellent.
But the XC90 in 2005 was still bad. The T6 model especially. They still had crappy transmissions which I think were fixed by 07.
But Volvo's current line up of cars has had really good quality. The reviews on the S80 in 2007 are better than the Accord for 07 (Edmund's.com). People love the new ones. They're a lot of money, but hey, a BMW is $10k more, and current Volvo's are less to own than a BMW. Have you seen the new S80? And the XC60? They're starting to look like Volvo's again! Not Fords!
For a while Volvo's quality and reliability suffered but Volvo is pretty much all set now.