Yes, this DOES ring a bell - a $350 bell.
Don't throw the original Bosch throttle module away. Instead, let it sit on the shelf for the next ?? years just like I'm doing because it probably won't ever be needed. When our 05 S80 2.5T went through the same scenario, I called my trusted Volvo independent mechanic "back home" (800 miles away) for advice. He said he NEVER saw one of the Bosch units go bad. I should have taken a hint.
In our case the problem turned out to be the ECM connection. I didn't have the lock/unlock tool to reseat it but my new local Volvo indy did have one. They unseated and reseated the ECM - it's been at least a year now with no problem.
Since a deteriorated connection is more age-related than mileage-related, it would make even more sense in your case with that low mileage car. (70K! That's unreal.) A shot of electronics cleaner on the contacts probably wouldn't hurt.
The Haynes manual shows how to make your own ECM/TCM tool but I think they're getting affordable enough to just go buy one. If you're going to work on Volvos you'll need one around anyway.
http://www.ebay.com/itm/VOLVO-ECU-REMOVAL-TOOL-9995722-/201855820236
Some guys on Youtube, etc, claim to have used a very small screwdriver instead of the tool. I tried that a little bit but I could see a risk in doing undesired damage.
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Current rides: 2005 Volvo S80 2.5T, 2003 Volvo V70 2.4NA, 1973 Volvo 1800ES (getting ever closer to road worthiness)
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