Ever since I have had my 96 850 Turbo, the ABS/TRACS light randomly came on. I checked with the dealer and they wanted almost $600 to put in a new one. Since I didn't notice anything different about driving except having the annoying light on the dash, and not wanting to spend that much money, I avoided it.
I recently sent my unit to brickboard.com member Vitor. I got the unit back and it works great, and saved a bunch of money in the process. If you are having a problem with yours, it is definitely worth checking this out. The repair was only $125 plus shipping, a savings of over $400! And, if your module is unrepairable, you are just out the cost of shipping it back - a win/win situation.
Check out his link and contact him for more information. I think he does 850's and 70 series.
http://home.earthlink.net/~vicrocha/Volvo_Parts/Volvo_V70_ABS.htm
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