My 740 is retired, and in its place is a 1992 Volvo 960. I keep saying to people it's amazing how many changes/refinements, back in those days, can be made in four years time. It's all those systems that people now come to expect (read: take for granted) in a 2006 model year - DOHC, electronic fuel injection, electronic transmission, ABS, power seats, of which I had neither in my Euro-spec 740.
You look at those changes and examine the new cars produced now -- and all that differs from my model until now is the internal styling, the use of variable valve timing (the same system given different acronyms by different makes), the number of airbags and curtains, and now the second generation of VVT in the new 3.2 inline-6 motor in the S80. (Okay, so I didn't give enough credit for the time spent doing safety research (WHIPS) but you get the idea.
My 960, which had its engine rebuilt, is quiet and smooth running. With the gas pedal floored, it wants to go all the way to 6,000 before shifting, and 8 seconds later I'm at 50 MPH (80 km). It's very torquey and has twice the horsepower of my 740. And it's better equipped than the European models!)
Sure, maybe I run the risk of higher maintenance costs and other undiscovered problems - but the extra power and body condition is all that is needed to deter me from any further work on my 740. Don't get me wrong -- I loved that car very much. Had I not been offered this 960 I would've just settled for a new body job. I would've wanted a late model 960/S90 - the most refined, but I'm happy with this car after 300 miles of driving in four days. Lastly, it is just as fuel effecient as the smaller 740 motor. (!)
Unfortunately, rust (on the 740) is to cars as cancer is to human. I've finally had to let it go. I didn't let my parents nervousness convince me at all - but eventually the loss of power when starting from an incline (torque converter), and the electrical voltage of the system (13.0 V peak, average 12.5 with engine running; 11V at worst) finally persuaded me.