i am just judging the reliability off my friends experience, and he has had to dump a ton into repairs, i think over 8 grand.. yes he does drive it hard, but a sports car should be able to be driven hard without destorying everything.  the tranny had to be replaced before 70k miles, as well as the clutch and many other drivetrain issues.
though im sure if you took it easy most the time it would be much more reliable, modern volvo's arent anything amazing in terms of reliability, parts arent so cheap either..
and i say it handles like crap because i have driven it a lot.  its soft, and its very poorly balanced.  its twitchy at the limit, and extremely hard to get it to do anything other than push, when you do get it to oversteer it snaps into it, you correct it and it goes back into a big push.  you cant get it to hold a nice, very slight slip angle, like you can on many awd cars, even fwd cars that understeer naturally. i blame some of this on the numb steering feel, which makes it very hard to stay ahead of the car, its hard to tell the front end is going to push until you are already there.now i know im sounding extremely critical, but thats because its easy to be.  this is the type of car that you just have to drive around spiritedly at most, which it is fine for. its a somewhat sporty cool looking car, thats what you have to buy it for, not as a high performance sports car because it just isnt.