My Dad and I each used to have one of these engines. I have a '80 Volvo 240 sedan, and he had a '81 240 wagon. Both were the non-turbo version. We bought mine used the the odometer had been messed with and the timing belt snapped! We had to pull the head and have seven valves replaced.
They were great engines. I ran one time for 45 minutes without the alternator with the radio, AC, wipers, and lights all running. Got home and the car still had enough juice to start.
I do remember, those things would smoke like you wouldn't believe, especially if you had the AC on.