Tried this on my 2001 S60 T5, and while I got the audible warning, upon igntion it didn't reset the service light. Have tried all the procedures listed above so now coming down to two final options: 1) take it to Volvo or 2) remove bulb....

I was given the figure of "over 140psi" by a Volvo specialist and a variance between cylinders of not more than 10%. This was for a S60 T5 2001 model.