I just replaced my OEM Thermostat on my S70 T-5, which was a genuine Volvo Wahler. 127000 miles on the clock. It was warming up very slowly, and would rarely hit the normal 3 O'clock position. The replacement was from FCP Groton, which was the Vernet Calorstat. Now it warms up fast, and sticks right at the 3 O'clock position like before.
I put in the 87 degree model, which FCP says is the OEM temp for the Turbo. The owners manual says 87 for the turbo, and 90 for the NA, but my factory stat was rated at 90 degrees...hmmm. From what I've heard the 87 degree model isn't even available from Volvo directly anymore. I'm sure I'll be fine.