I have a 1991 740 with 240,000 miles and a 1995 850 turbo with 142,000 miles. These are my observations so far.
The 850 turbo is fun to drive but I miss the turning radius of the 740. I haven't tried to change the timing belt on the 850 (it was changed before I bought it at 118k), but I know that it will be much more difficult than the 740. I just replaced the heater core in the 850 (wasn't too difficult). My biggest headache right now is the notorious driver's door stop. There is a design defect that causes the weld to break resulting terrible sound every time you open the door. The 850 also tends to have an over active OBDII system that is always triggered by stray codes. I have a code reader and clear them as they come up. Otherwise, the check engine light would be on all of the time.
The other thing that you didn't mention is the main rear seal. This is a weak point and costs around $800-1000 to replace. It seems to be more of a problem with the non-turbo models.
You can find a lot of informaion about 850s at www.volvospeed.com. The repair section (Bay 13) has a wealth of information on repairing 850s.
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