You're close but....they're not "factory" per-se. They're rebuilt by a US based company that Volvo sublets all their trannies to for their rebuild program, not really rebuilt in Sweden (or ?) by the same people who assembled it in the first place.
I will say that those who rebuild them do a very good job of it as I've never seen one return within its warranty time (or even close) with any problems.

Yes, they're complete with torque convertor (rebuilt, flushed, cleaned), new PNP switch and sensors. For the guy who buys one, no old parts from your old trans are re-used when its replaced so although you might think it's costly, all in all it's not a bad deal as when it's done, you're back to driving the car again with the trans problems behind you.