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We are a complete Volvo family. My father owned a 1998 V70 GLT, much like this one, as my mom owned a 96' 850R, which I currently still have. I picked up this V70 in March of 2017 for $1,300 in decent shape. Although, about a month after I got it, I had noticed a major oil leak, which appeared to be the rear main seal... which would obviously require us to drop the motor and the transmission. I decided to go on with the project of taking this car apart, being that it would be a great learning experience for me. The top end of the motor was fully rebuilt, I purchased a 16t turbo for it running at 17psi, an ARD Green Stage 2 ECU, and a 3" OBX downpipe with a high flow cat leading to a 2.5" Mototec touring cat back exhaust. I also bought a 2004 S60R manifold for it, 350cc White Injectors, an IPD turbo control valve, front and rear IPD sway bars, Bilstein HD front struts and Koni's for the rear, IPD Lowering springs, an IPD RIP kit, and every gasket and seal that will be needed to bring it to stage 0... as well as tune up parts. It is an automatic, but yes I will be putting an M56 in this. Update 12/28/19: I finally put P80 R seats in it, added a 3" OBX downpipe with a high flow cat, and put some Bilstein HD and Koni struts on it for a stiffer but more comfortable ride than compared to stock. I also ended up putting perfos on it and everything is looking and sounding great!
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