I bought a 98 V70 turbo a few months ago. It's to replace the old and tired 89 740 turbo. I did a lot of hand wringing, but all in all, I'm quite pleased with the car, and my wife absolutely loves it.
Maintenance wise, the V70 is a dream compared to the older 740. I never understood the Volvo engineering logic on the 740, so I broke fasteners and such constantly, lost tools into the transmission tunnel from hell and other such things. The V70 makes sense, has room, and is actually engineered for repairs and maintenance. A breath of fresh air.
A nimble car I would not call it. But then I come from a Honda CRX, Triumph Spitfire, Fiat Spider background. If one comes from a Buick Regal, Chevy Tahoe background, the car would be quite light on its feet.
It's quick in the turbo form. There are several turbo forms, to ensure confusion. The GLE is frequently the smaller lower pressure turbo (unless you have a non-turbo GLE). This one kicks in faster at low speed, giving you more performance for normalish driving. The T-5 and the R models (which sometimes are the same) have larger higher pressure turbos. More top end performance, more turbo lag, and they get passed by GLE turbo models when racing from one red light to the next.
Cheap is not a word I normally associate with Volvo's. Especially if you are paying others to do the repairs. But on the 850/V70, parts aren't particularly expensive, maintenance isn't hard, so doing it myself keeps it cheap. I clear my check engine light when it comes on (every few weeks), admire the new code (never the same twice), and keep on driving.
There are normal maintenance/repair items for each model and era. The 99 and later have terrible failures with the air mass meter (not cheap). ABS brake modules fail and need rebuilds (cheap). 850's would lose a/c evaporators if the air filter wasn't installed. 98 v70's have an irresetable service engine light (remove). PcV system is remarkably convoluted and prone to a 100k mile overhaul (who on earth has to overhaul a PCV system?).