Well, I got the car registered and inspected yesterday.
The inspection station failed the car due to a slight movement in the front passenger side wheel. He states that I need a new tie rod for it. Personally the car seems to be riding very nice and smooth. No rattles in the front end. But he states otherwise. Then he stated that a plate light was out. (Bulb ended up being loose in the socket. It was not put in all the way.)

The car passed the emissions side of things, but shortly after leaving his place the check engine light came back on.

I found the fuel pressure regulator about 6" from the Fuel Filter on the vehicle by the rear passenger wheel. The Fuel filter had to be the original unit. It was rusted solid to the strap that holds it to the bracket underneath. So I replaced that and then I looked at a couple more hoses back there and replaced them as well. After further review I may end up replacing the Fuel Pressure Regulator as well when I get some money. But if I replace the Fuel Pressure Regulator and that still does not get rid of the check engine light, What else could it possibly be?
A Volvo Person suggested that I look at the Plastic Tee under the throttle Body. He states that there is a screw on the top of the unit and it has a small o-ring that can failed from time to time. Has anyone heard of that before?

Probably in the next 500 to 600 miles I plan on doing an engine/transmission flush and switch the car over to Amsoil Synthetic Lubricants. (www.weareoil.com) At that time I plan on tearing out the air box completely, giving me room to work on the flame trap area and r/r that as well.

Then while I'm at it I might as well do a complete Tune up. Then when I get some money saved up I will replace the PCV system complete in this vehicle.

What's everyone thinking on this? Am I heading in the right direction.

Thanks.