Next step was the timing belt.
By this stage I'd had the car about 6 weeks and decided it was a 'keeper'. I'd grown far too fond of it to continue playing Russian Roulette (See timing belt sticker image on post #2)
A Gates kit (My kit of choice) was bought with great care taken to ensure the earlier tensioner type was included...
No turning back... In all honesty Volvo belts are a pleasure to change. This one took about 2 hours all in and was in relaity not that much more involved than the belts on the old 700/900 series engines once the job got underway.
Old vs new...
And job jobbed...
Although I've never spoken to @Clan and the other Volvo grey beards of the web, I'd stumbled upon their wisdom RE leaving the waterpump alone. Bearings were checked for play and the pump was inspected for leaks. All tests were passed and so through gritted teeth the original pump was left in place.