I did my "front of engine job" on a '93 last summer: all three seals (although they didn't leak), timing belt, tensioner, water pump, fan clutch (Dave Barton's "Tropical" version, a.k.a. "Swamp Cooler"), and even all the accesssory bushings (for alternator, A/C and P/S), etc. -- everything I could think of in that area. It had 135K miles (newly acquired), and just switching to the synthetic I like.
To make things easy, I recommend removing the radiator (and shroud) -- it really opens up the area for working!
Anyway, besides using "the crank holding tool" from IPD and a large oil filter wrench to hold the belt pulleys, the only other tool I needed (besides torque wrenches, obviously) was the Griot's Garage set of picks -- they're teflon coated, so I wasn't afraid of scratching the shafts -- and they worked great.
Also, when reinstalling the new seals, I followed advice in the manuals and positioned them about 1-2 mm deeper so that they didn't sit on exactly the same surface as the previous set (this is counter to advice you've received in another response).
Finally, don't go cheap on the seals -- use the seals from your Volvo dealer (they're by far the best, I've been told on this forum). But if you do the water pump also, don't use Volvo's because their replacement is no longer HEPU but some other brand, so buy (only) HEPU from another source of your choice. I also used IPD's "poly" bushings for the alternator, etc.
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