If you come on to the UK Volvo Owner's Club site, you'll be able to get reliable specs on the R and the T5-R, which are slightly different vehicles.
The V/S70R is also dealt with, though of course in the US the manual option is a very rare beast on all these cars.
Briefly though, the T5-R is a homologation special based on the 850 T5 engine, which was "productionised" for the R successor with stronger internal engine components.
This stronger engine was carried through to the 70 series T5 and R cars.
Spec changes vary according to market and year, so what's on the car is very difficult to predict, but from my experience Rs should have leather/alcantara seats, two power seats at the front, A/C, cruise control, electric sunroof and headlamp wash-wipe plus all the usual top-spec 850 toys.
I would imagine that estates will also have levelling headlights and may have self-levelling suspension as standard.
All Rs are incredibly heavy on fuel, even by Volvo standards - though of course you US SUV drivers will not worry about that!
I get about 20 mpg on motorways and around 16-19 in town, this is with a manual box and seems to be completely independent of driving style. (UK gallons, BTW)
70 vs. 850? well it depends on price, availability and vehicle condition - the 70 series are better sorted regarding dash layout and creaking and the saloons don't have those awful clogging drain holes, but you have the problem of pretty but vulnerable body-colour bumpers and rubbing strips - I prefer the grey plastic protection myself.
Service history is even more essential than with lower spec cars, and watch for accident repair.
I'd buy from an enthusiast or from a dealer and get a mechanical warranty - if there's any reluctance on the dealer's part to do this, walk away fast.
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