I have had 4 different models of Volvo, and I still have 2 for daily use.
one bought used: a station wagon, there bought brand new: S40 for my GF (now my wife, and she still drive it daily); S60 for my daily work and a XC70 (it was my dream car after the used station wagon) for our leisure. Of course, I do have experiences with Jap cars too: Celica GTS (I was a student, and poor and young and for speed), Acura Integra, Civic and CRV, all bought brand new within 5 years period and sold them all.
I do not know what I really wanted until I was 30. I settled myself with Volvos other than Benz nor BMW (Although I could/can afforded, but I thought they are over priced)
I love Volvos for two main reasons: Safety and Elegant.
All my Volvos have no major troubles over the years, of course, it costs more for maintenance/repairs and not really fuel efficient than those Jap cars.
What's Reliable? All cars are just machines, sooner or later they will have problems even a brand new one. Car's reliability is related with your driving habits, knowledge, and maintenance. All my volvo cars are running great even the 12 years old S60. Why, because I knew how to treat them - I run a charter bus company with a fleet of over 90 highway coaches and cars.
Read your manual, driving carefully for the first year of your new car, follow the scheduled / suggested services in at least 4 years(not DIY, you can never save money and get performance at the same time). Not only Volvo, but also all other cars.
Go test drive one, and see if you like its handling. I did my with couple Lexus before purchasing the XC70. Lexus has quieter engine with many computer controlled fancy devices, however, I just could not feel any "Luxury" about it. Bottom line is: I need a car that is safe on the road.
To be continue...