The delay on the transmission problem especially during a turn sounds exactly like the problem I lived with for years on my Mercury Sable wagon! Now ford owns volvo...coincidence?

Mine Does it too, especially turning right...Dealer told me it was a feature and not a problem. I asked him what he was smoking? No more Volvos for me. I have had all the fun and excitement I can stand. Have you looked at the re-sale on the 2001 V70s lately. That definitely speaks for itself. Good luck! Kick some butt!

V70 2.4T 2001 (YuK!!!)
1988 BMW 325iX
1999 BMW 540i sport

I have a 2001 v70 and was having the same problem. It was intermittent but just as you described, the car would almost go into neutral after giving the car the gas the tac would go up to 4000 rpm and the car would go nowhere. After 3 trips to the dealer they hooked me up to a black box with a button I needed to push if the situation reoccured. Luckily the situation occured during my two weeks with it. What they found through the recording was that the automatic gears in the transmission were defective and a new trasmission was put in. No problems since the new trasmission was put in. I can't believe I am the only one with the problem. I wouldn't accept anything but a new tranny if I were you. No compaints as I said since the new one was put in. Good luck

Are you sure the delay is really 10-15 seconds, not an exageration as that'd be a very long delay. I will tell you that all of the newer cars do normally have a noticeable delay when given full accel and it's not just Volvo, I've noticed that on MBs for many years and others as well.
If you are exagerating the time and really mean the temporary delay instead, there's nothing that will ever cure that as for whatever reason, it's a "built-in" feature and apparently engineers have there reasons as to why it does that. Me, yeah I'd prefer an instant throttle, shift response in my cars too but the newer cars don't do that.
If on the other hand you're sure that there is a real problem, something that's abnormal, have an experienced Volvo dealer master tech (not a service writer) go with you on a test drive to get his input on that. If it's like I'm assuming (above) and it's just like any other new V70 (which they should be willing to let you compare as well), then you'll know that that's the way it was designed, built in and not cureable.
No dealer or VCNA people can change anything that was designed into the car if it's "normal", like all the other new V70s.

Still under warrantee? Make the dealer fix it. Don't take NO for an answer.
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Warren Bain - '86 744Ti M46 >290Kmi, '99 V70Glt > 45K mi, '96 965 >100Kmi Wifemobile near Manassas Va.. Check the 700/900 FAQ via the 'features' pull down menu.

I have a 2002 V70 and I have experienced a similar experience with my transmission.
the first time it happenend is when the car was brand new, 2 days old, and I was driving 30-35 MPH and was coasting down to stop for a traffic light, before I could come to a complete stop, the light turned green and I depressed the accelerator and the engine rpm increased but the vehicle did not gain speed. it was as though the transmission had slipped into neutral. I thought that possibly the traction control had kicked in, (the road was wet)and I kind of shrugged it off. the second occurence was when I was making a 90 degree right hand turn onto the freeway ramp ,and It was during heavy acceleration, that the engine rpms went way high and then the transmission jerked into gear. again, it seemed like the transmission went into neutral and then went back into drive and the front tires screeched ! again I attributed this to the traction control kicking in due to the presence of loose gravel on the road surface. so, I'm not sure what to think now. please give me more detail to as what the circumstances were when your tranmission exhibited these same behaviors. you have piqued my interest.
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You will never leave where you are until you decide where you would rather be - 2002 V70 stk, /w /tinted windows