This car has been out in Scandinavia for quite a while. I've seen it around, as wellas its wagon brother, the V50. Personally, I think they are very nice looking. When they put out an S-version of it, I mught consider it. The cool thing, designwise, which doesn't seem to have made it to the states, judging by these picks is the "floating" center-console. Very scandinavian. All in all, I think volvo are going in the right direction.
Here is what top gear had to say about the new S40...