Ours has less than 50,000 mi. Had to have the A/C fixed last week and we weren't too thrilled when the wiper (on the driver's side) went out in a driving rain, but pretty minor problems compared to the (1 and only) American-made car we once had.
The main reason we probably won't buy a Volvo again is the dealer. We are just SO sick and tired of being to we HAVE to give them an 'Excellent' rating. We don't get loaners and our car has only been washed once when serviced (this apparently should be done according to a survey we received). Service takes ALL day if I allow them to talk me into going home, while they work on the car - then I have to get back to the dealer on my own.
We've also had a VERY annoying squeel from the fan when the heat is on that they haven't been able to fix. Try going through a Colorado winter not using the heater too much.
Basically we do like the car and the way it drives, but can't stand the dealer.