I had my pads/rotors replaced recently on my 98 Cross Country with OEM rotors and Repco pads. The mechanic (Volvo independent) recommended this combination and I have been VERY pleased so far. I have not had to wipe off any brake dust after about 1000 miles of combined driving. That is to say, I have not had to clean off the wheels since he put the pads on.

The mech said that the Repco pads have gray dust rather than black so the dust does not show as much (sounds good anyway). So far there is no squeal either.

Braking power seems very good too. My wife commented how much better the car stopped as soon as the new rotors/pads were on. (Of course, that is compared to rotors/pads that needed to be replaced)

Ask me how I like this combo in another 6 months.

There are several products out there that you can find at any WalMart, Target or parts store. They are about $4 a bottle and you spray on the wheels ( need to make sure the wheels aren't hot or it makes it tougher to clean ) and then hose off. It will take most of the dust off then you can use a cloth to take the rest off. I clean my wheels once a weekend and it usually lasts almost the whole week.

BRAKES
There are brake pad compounds that leave little or no dust, but they have a reputation for being squealish to some degree. And some have opined that the harder composition makes for brake fade and heated rotors; you can compensate for this, perhaps, with slotted or cross-drilled rotors.

My own personal experience is that rotors last far longer (because they sponge the heat off the rotor) and braking is virtually fade-free with softer pads composed of a so-called 'organic compound.' The downside is faster pad wear and brake dust. But pads are cheaper and easier to replace than rotors. I carry a couple old terry cloth towels in the trunk and wipe my wheels a couple times a week. And I wash the car every week or so and give the wheels a thorough cleaning at that time.

Five Volvos, combined 927K miles...and I do all my own brakes.

TRACS
This is a device that uses the ABS system to prevent front wheel spin when starting out in slippery conditions. It applies brakes to a spinning drive wheel. It doesn't operate above 25mph. Under certain conditions it can be a nuisance, in which case just shut it off. Other times, however, it's quite helpful.
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(98 S70 T5SE misc mods, mostly lighting) (92 940GLE)