Thanks everyone! Seems like a pretty cheap fix, much better than a mechanic suggested, which was basically removing the entire turbo assembly and the associated labor costs!
I'll try this and post back with the results!

Anyone else ever experienced this problem??? My 1998 S70 (turbo) no longer overheats, the temperature gauge does not register over the middle level until the low coolant light comes on. I replaced the radiator, upper/lower hoses, t'stat, and verified I do not have a blown head gasket. It idles fine ...