Changing the vacuum hoses was a good thing to do.
High HC and CO normally indicate unburned fuel, Rich burn. Does the car run well or does it miss some times? What brand of plugs and wires are on it? Some brands don't work to well in Volvo engines. High NOx normally indicates a lean burn which should be helped by fixing the vacuum leaks. Can you drive it enough to get a couple of tanks of fresh gas through it? Use a can of injector cleaner also. Techron is highly recommended on the brickboard.
Normal operation with emission control is to vary from slightly lean to slightly rich running condition. On the slightly rich cycle, the Cat burns the unburned Fuel to lower the HC and CO. During this rich period, the Cat also stores CO which is used in a chemical reaction on the slightly lean cycle to reduce the NOx. Your car seems to be going too far in both directions, giving high readings for all three emission products. The bad vacuum hoses might cause this, but this is also why I asked about the engine miss. The control system works by sensing the O2 in the exhaust and adjusting the fuel volume. If the engine is missing, even ocassionally, it can confuse the control system into thinking that the engine is running very rich. The control response is to compensates by leaning the fuel out greatly. In essence overeacting.
It is possble that the Cat is gone, but you need to make sure that it is working in a normal control range first. The Cat can only function if the fuel mix is reasonably close to the right range. A faulty O2 sensor can also cause problems and you should test it to be sure. (May show up when setting the CO setpoint as recommended below.)
Follow the procedures in the FAQ section on cleaning the throttle body and Idle air valve. Set the base idle and adjust the CO setpoint. Clen out the flame trap - clean the brass fitting connected to the small hose at the intake. Buy the Bentley's 240 repair manual. It isn't cheap ($35 - $40), but you will be forever grateful for spending the money if you plan to maintain this car.
Good Luck. Hope you live in an area where emission re-tests are free.
Dan
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