So I did some testing last night....

Fuel pressure at the rail jumps right up to ~29 psi the instant the ignition is turned on and the pump runs. As soon as the pump finishes its 2-second prime, the pressure drops immediately to ~15 psi and holds there quite a while (very slow leak down from 15 to 0 psi). While cranking the starter, the rail pressure remains right up there at 29 psi. So I moved my attention to the cold start injector and thermal timer. It appears the 12v signal reaches the cold start injector while I'm cranking the starter, however it doesn't produce a spray. So I will be looking into a possible clogged cold start injector just like I found on a couple of the regular injectors. This car sat for 18 years with fuel in the system and boy, am I paying the price now! I had the tank cleaned out and flushed the supply and return lines but I still think some crud may have found it's way through. I installed a new filter after having the tank cleaned, but since the filter is downstream of the pump I put another transparent filter in-line between tank and pump. The added filter was trapping some crud but then it fell apart inside so I removed it from the equation. Maybe the electric Bosch pump was pulling more fuel through it than it could handle - anyway I'm currently running the stock configuration of the one metal Bosch filter downstream of the pump.

As for possibly having leaky injectors, I checked for that when I was flow testing the injectors. They don't drip when pressurized.

So I'll get the cold start injector to working again, or replace it, and then see if cold starting improves - I would think it would have to improve.

As for the fast cold idle, I will make darn sure that all the associated hoses in the cold start path are snug and that the A/C air bypass valve is closing tight. I also want to put a timing light on it and make sure the centrifugal advance isn't kicking in too early and making what would have been say a 1000 RPM cold idle into a 2000 RPM idle. I need to find an RPM vs deg of advance chart.
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Current rides: 2005 Volvo S80 2.5T, 2003 Volvo V70 2.4NA, 1973 Volvo 1800ES (fixed the ignition - now back to the brakes again)