Concerning the IPD chip:
If it really is the TME tuning, then it was probably made by the guy from this website:
www.wothrline.com
I am not in any way affiliated with his site except that I got my ECU tuning from him. Had to send the unit to Sweden, got it back in about 2 weeks time.
Since the software in the ECU itself is completely rewritten (and this guy actually worked with Volvo engine and performance department during the time the 850/V70 was in production) you get a really well balanced tune with no over-the-top performance figures which cannot be replicated on the street. A better flowing exhaust is highly recommended to keep turbo temperatures down though.
With this software my old T5 wagon runs more than 260km/h (GPS verified), I don't know the exact speed because once I exceeded that I kept my eyes firmly on the road and not on the GPS device, the needle was still climbing though (empty Autobahn in the morning is a great thing, sadly less that a third is still unrestricted and even less in a condition that allows this kind of speed).
Tires were 205 Pirelli P-Zero Asimmetrico on 17inch Titan rims.
A word of warning though: The standard brakes of the T5 are far to weak to cope with these power levels. I would highly suggest investing in a bigger brake kit, the AP brakes seem to be a good idea. Unfortunately the kist costs about 2500 Euros with TÜV certificate over here (illegal to mount/drive on without even if it fits!).
Concerning the upgrade process:
You could acquire a second ECU (should be from your MY and needs to be the same transmission type) and ship that directly to TME in sweden (so that you're not months without a driveable car), but you might have to pay import tax / customs, maybe even both ways. Should still be cheaper than the 800-something IPD is reportedly charging for the whole process.
And I agree, the Heico tuning is crap compared to this. They only re-badge other tuning stuff with their design and sell it with a hefty markup, their brake kits are standard AP brakes.
Design-wise they are quite good, marketing-wise they are clever, quality-wise - not so. (just my opinion, ymmv)
Volvo 850 performance chip guide
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flyfishing3
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