I currently run a 2003 V70 D5 SE with the 163bhp 2.4 diesel lump.
Bought nearly 2 years ago with 74k miles on it for £10,400. Worth hunting out the SE spec because you get leather, climate, cruise etc.
Seats very comfortable. Economy pretty good at about 42-45mpg depending on how it's driven.
Mileage now up to 105k. Service intervals every 12k miles.
Apart from regular servicing and tyres, the following problems have appeared:
Mass Airflow sensor - went at 86k miles - car would not pull above 2500rpm - being a mechanical numpty I took it to a main agent and paid over £400 to have a new one fitted (part cost £280). I now know where it is, it's easy to replace and I would buy a pattern part next time for a fraction of the cost and do it myself.
Rear wiper motor - this is apparently a known fault - the motors don't last forever - I got a used one for £40 and fitted it myself - all OK now.
The 96,000 service is a biggie - new cambelt time, so make sure it's been done if mileage greater than that, or haggle hard if approaching 96,000 miles. I got this service done at an Independent specialist for £350 - main agents wanted £600 plus.
I have a good independent specialist locally which is partly why I got the Volvo. They tell me the front wishbones will probably need doing at about the 120k mark - they all do that I'm told.
Apart from that, it's a keeper and I'm aiming to take it up to at least 250k miles if not more. It is a fantastic car for a five person family and we chuck bicycles and all sorts in the back all the time. It cruises very easily at 90-100 on the continent, it has a good standard fit in-dash 4 cd stereo, it is very relaxing to drive. We've taken it down to Italy three times so far and it's been great.
I have to say I love it, and for the money I paid I couldn't think of anything better.
I did consider the E class estate, but the Mercs were a lot more money for the same year/mileage, and I was put off by the rust problems. The obvious difference between the E class and the V70 is rear wheel drive versus front wheel drive.
If you want any more info, do drop me a message or just ask here.
Rgds
Philip