As above, although I'm not totally sure about the 1.6 diesel. Many do say avoid them but you do see them with high mileages. I guess it may depend on how they have been maintained and the recommended service schedule might not always be sufficient. I think most of the 1.6 and 2.0D diesels require swapping the DPF at 75k which is something to keep in mind.
I think a lot will depend on what your priority is and what's available. The most recent examples are a decade old now so getting a good specific example isn't likely unless you're prepared to wait. Firstly, I'd decide what's more important - condition and history or a specific model.
As always, there's no perfect vehicle. The ones that are more fun won't be as efficient and those that are more reliable might not be as fun or efficient, etc. Generally, a manual gearbox is probably the safest option with a Geartronic as a compromise, the Powershift would be the least preferred option. A facelift model is always good as well, common sense tells you that a facelift should be an improved version in terms of doing things that bit better. Avoid a sunroof as well, unless you really want one, but it doesn't have to be deal breaker on a good example.
Overall, the V50 is a very nice vehicle. It's a great looker and has plenty of style. Some are critical because of its association with the Ford Focus and Mazda 3, but it's often forgot that those vehicles had a reputation as a better drive than any Volvo. The fact that Volvo took hold of something that was pretty good and refined it using their strengths makes for an attractive offering.
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