I've got a v50 r design 140bhp. Had it nearly 3 years, it's a company car, and I really can't rate it highly enough. The quality and finish is awsome. It's never skipped a beat since I've had it and it's just done 87,000 miles. It needed a new air conditioning unit as it cracked and failed but apparently that's quite standard for a Volvo as it's the location they fit them that's the problem from the factory.
I've had a Saab 9-3 previous to the Volvo and the difference was night and day. I did 126,000 miles in the saab, but the Volvo is absolutely brilliant.
I've had a look and drive of the v60 as mine is due to be changed again in November, and it's every bit as good as the v60, my only point would be is that 115bhp version I think will be under powered. The v60 is bigger than the v50 and less power I think wouldn't be great. I've seriously looked at the D3 and the D5 and I think either would suit me fine.