Very informative thread. :thumbup:
I'd like to add one piece of information that will save some work for people doing this conversion. (please don't shoot me if this has already been mentioned in a post and I missed it) The volvo calipers that you really want to use are those found on a 1992 240 with abs. These calipers only have a single brake line and do not need the adapter manifold or the drill mod.
http://www.autozone.com/brakes-and-traction-control/brake-caliper-front/duralast-reman-brake-caliper-front/volvo/240/1992/4-cylinders-8-2-3l-fi/862922_977303_2362/