Make sure the S60 does not use the same transmission as the V70 (I suspect it does, however). Back before I bought my E36, I was a hair away from buying a V70 XC (cross country), but after scratching the surface on my research, I found that with almost 100% consistency, the transmissions fail in the ballpark of 100k miles, and cost in the neighborhood of $4k to replace. Since the ones I was looking at were in the 75-100k mile range, I quickly threw that idea out.
1998 BMW 328is
1966 Pontiac GTO
2007 Subaru Impreza 2.5i 5-door
View my photos: Caught in the Wild