Well we have a 1998 S70, the sedan counterpart to the V70 and I would say this is a great year for the V/S70. It does not have the problematic electronic throttle body introduced in 1999, but it has all the good safety stuff (more airbags than the 850 series).
We have been very happy with our S70 which now has 170k miles on it. We did just this week have to remove the ABS module and send in to Victor (thanks to Klaus here on the board for letting me know about him) who will fix the ABS via mail for $125 plus shipping. Other than that, it's been mostly little maintenance things and a couple of very small repairs like a vacuum hose leak ($3 part), a new thermostat in 2006 (did it myself, $50 part) etc.
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