I have 1998 V70 GLT and for the 3 years I've owned it (bought it used in 2000) I spent around $1000 on repairs (wheel bearing, oxygen sensor and check valve to fix P0410 code).
When I recall my search for a wagon, I too considered Subaru or Passat. Both Subaru and Passat I found quite cramped, especially rear seats, and small. Also Subaru was looking very cheap and interior finish didn't inspire much confidence. My friend works for a Japanese automotive company and he admits that they outsource the cheapest radios, even for the more expensive models, from Panasonic, Sony, etc. Handling wasn't that good either, but I must admit it is individual taste and preference that makes the call. I too have 4 cylinder Accord but my Volvo will outrun any Honda at ease and although ride is harsher, high speed stability and handling are much better.
Compared to Subaru and Passat, Volvo interior is huge and seats (all of them) are comfortable for 8 hour drive. Try to drive for 8 hours in Passat and chiropractor visit will follow.
I guess the ultimate test of a car is its owner willingness to repeat the same choice in a future. In my case, I would buy Volvo again, but I don't know about Honda (mechanically Hondas are sure bet but each model is uglier than the previuos one).