Peter, I just came across your question posted on the BrickBoard and feel as though I may be able to answer some of your questions.  I have completed eight conversions using Ross Converse's kit.  Since I have gone on to do many more using a significantly different conversion process.
 
For your particular uses I'm afraid Converse's kit will be very unsuitable.  I am very apprehensive about using a vehicle with his components in a track/performance situation.  This is for a great number of reasons which I can briefly outline for you, and would be happy to talk with you personally more in-depth.
 
Many of the components you would be supplied with are substandard by any mechanical engineers standards.  Unfortunately Converse is not an engineer, and has not done adequate research in the design and construction of many of the components.  He has a lack of understanding metallurgy and basic design and construction techniques that translate into an unsafe conversion. 
 
Several of the pieces included in his "kit" are a serious safety concern.  For instance, the manor in which he has specified the installation of the transmission mount is a significant compromise in strength for ease of (consumer) assembly and cost.  There are a great many issues of wiring that need to be addressed as well.  The installation of the components is very straight forward, at the cost of being complete and safe.  Many of the original safety components are overridden, such as the "check engine warning" lamp and the neutral safety start.  The ford EEC-IV system is a very sophisticated system, and was never intended to be "dumbed down" for a simple installation into a donor vehicle.
 
As for handling issues they are rather bleak by many standards, but there does remain hope for the box.  The majority of the quality suspension accessories are provided by very obscure manufactures, not by IPD as many would have you believe.  Full polyurethane bushing kits are available on a custom basis, large caliper/disk brake upgrades are available from Alcon, and wheel tire combinations w/ the proper offset are rare but out there.  IPD swaybars make a dramatic difference, but as you probably know care should be applied when swaybars are relied solely and singlehandly on to "improve" handling.  Properly valved shocks, and custom spring rates are available - but are not suited to a station wagon's cargo weight carrying capacities as IPD would like you to think.  Limited slip differentials exist, and are a prudent additions given the extra horsepower and torque available  with a V-8.  Realistically you're limited to a tire somewhere in the 225/50-16" range, you could go with a lower profile but this does little for the discerning driver, and infact in many situations is detrimental.
 
So there are many options.  It just matters how involved you wish to get.  The Converse conversion will indeed get you into a V-8 powered Volvo, but you must understand the compromises in safety and performance that come with.  Most of the negative problems have a remedy, unfortunately Converse will not be able to afford you the correct solutions that will ad to reliability, safety, and enjoyment.
 
Unfortunately I am short of time now, but I would be happy to discuss the many options available to you for the 700 and 900 series vehicles.  I also can provide you with references, and even put you in contact with a person who has completed the One Lap of America twice and placed first in class with a V-8 powered Volvo that was developed.  Although I am not in the SF area, I am considerably closer living near Seattle, WA and would invite you to inspect the vehicles that I have crafted to each customers individual needs.
 
-Alan