First some background:

I was replacing the front seals, Cam, Interm, Crank - I had solicited some suggestions here:

http://www.brickboard.com/RWD/index.htm?id=1111389&show_all=1

I used the rope trick and neanderthal techniques to avoid any Volvo special tools. Put everything back together (no extra parts!) and started the engine. It sounded kind of rough, but had been sitting for some time. Drove for about 5 minutes, eliciting the following symptoms:

Low power
whirring sound when stepping on the gas (belt slipping?)
Check engine light appears (near the end)
smoke coming from what appears to be a bolt on the exhaust down pipe (passenger side, behind the exhaust manifold, near the firewall).

I will assume that problems range from belts slipping to pistons and valves meeting in a shrieking dance of death commonly known as "Prelude to a Rebuild".

About myself - graduate student in the humanities with more time than money, and a second car to keep wife unit mobile. Slightly above average technical ability, but learning about cars via a 92 240. No garage, though I have access to one for semi-limited time: my brother's, but his wife doesn't dig long-term projects. Substantial access to pick 'n' pull parts of numerous 200/700 series cars.

I would like to use this temporary setback to gain knowledge and skill, so I was hoping that you guys could give a few thoughts on how to go about this. Assume I can work outside year-round (very So-Cal), and have some limited storage (like the trunk.)

If all else fails, I'm going to do a tear-down with my Haynes and Blue Book - I'm sure to learn something good.

Thanks for the input,

Yours in unwilling ignorance,

Lanval
--
92 240 GL, 25mm IPD Sways, Virgos, Tach/Oil Temp/Oil Pressure/Volt gauges 147,000mi