My suspension is original. At 130,000 miles, I am noticing lower front noises and a hard ride. What is suggested as for as suspension overhaul is concerned for the front and back? Any estimates on price? Is this something a general shop can handle, or should it be someone who knows Volvos?

 

A general shop can handle all of the suspension fixes. I just went through and replaced my struts, bearing plates, lower control arms/ball joints and a CV shaft. It was pretty easy, really.
Anyway, what kind of noise? squeeking, clunking?
jack the front up and push againsts the top edge of the tire, pushing into the side of the car. Move it back and forth, if it moves, it's ball joints.
With the car on the ground and the hood up, push the front of the car down and up. If the black rubber bumper on the strut moves away from the strut, your bearing plates are bad.

 

Hmm... I don't think I've EVER heard rattles and squeaks from the front of an S/V70 before... no way... can't be possible!

These cars are known to have these noises. The most common causes? Sway bar links, strut mounts, and ball joints. You need at least a pair of one of these items, but with the mileage your car has, I'd recommend replacing it all, plus the struts, if money allows. I think FCPgroton offers a kit with everything for this. It's expensive, but if one of those items is worn, the others will follow soon, and even if you do the job yourself, you'll have to do it twice of 3 times, and have to get the car aligned again each time.