Are you having intermittent or constant ABS and TRACS lights? Check out this website: http://home.earthlink.net/~vicrocha/Volvo_Parts/Volvo_V70_ABS.htm
My 1997 850R had the same problem and my mechanic verified that the computer was faulty. $450 for a new one from Volvo and there's no quarantee that the new one will be of better quality than my existing ABS computer.....I don't think so! I followed the removal instructions listed on this website, shipped the computer from Virginia on Monday via priority mail, received a diagnosis via email on Friday, paid for the repair via PayPal, and had the ABS computer back and installed the following Monday. One week turnaround, with a round-trip coast-to-coast shipment included! The computer checked good and the lights went off at 15MPH, as advertised, and stayed off. Outstanding service! This is the way to go, if you want to save $300!
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