I just made a video of swapping out my right front axle and hub unit (I did both sides though). I couldn't find any other videos showing everything I wanted to see when I was searching, so I made one. This video is of my 2005 V50 2.4i, which should be the same as most S40s, as well as most C30s and C70s.

Some of the highlights:
1) A cool trick for getting the knuckle's clamp off your strut tower. A lot of folks struggle with this, but I show you a way to do it very quickly and very easily, and it doesn't even involve a hammer! ;-)
2) Pressing out the old hub and pressing the new on back in using a cheap 12-ton Harbor Freight press (just don't laugh at me when everything falls off the press when the hub clears the knuckle). ;-)
3) A quick visual comparison of the Cardone rebuilt (of an original Volvo axle) and the failed 4-month old Surtrack / Trackmotive axle (both of them developed rotational play in my case, within a few thousand miles)

The video can be found here:

 

Sorry - the original video file I uploaded didn't work...

 

Cool trick for spreading the knuckle to remove it. I never thought of that. Volvo has a special tool you put in the slot and rotate, but sometimes it grows legs so I'll keep this in mind next time it goes missing.

 

FY(all's)I - the strut removal trick is at about 2:40 in the video.