So i came across an interesting article of HP dyno chart of the V8 Volvo and got me thinking about what the numbers really are.

STOCK V8 Output
311 HP (Crank)
325 TQ (Crank.

Dyno Chart. From S80 V8 same output as XC90.

States that the output at the wheels is as follows.

Now if we sue this site to estimate the Crank Output we find: HP CALCULATOR
332 HP (crank)
? 350 TQ (crank)

Conclusion the V8 was underpowerd from the factory if all this is true.