For some odd reason, every here and there my ABS light (and sometimes traction control light) light up when I start my car... they usually turn off after about a minute of driving... but what could be wrong? My brakes and lines appear normal and the fluid is at its nominal level...

 

Most likely your ABS module is toast. I had this same thing happen to my 98 V70 AWD and found a guy on Ebay with plenty of positive feedback that rebuilt it for about $100. The new such module costs many times that, and will fail eventually again, because it's the same faulty part. My guy that rebuilt ABS module was located in Idaho (if it helps when you research on Ebay)

 

This link takes you to the site of Victor Rocha who has a first class reputation for this type of repair. It gives you a diagnostics, how to remove the unit and a great deal of info on the ABS.

http://home.earthlink.net/~vicrocha/...vo_V70_ABS.htm

 

I agreee on the bad ABS module.

 

I also agree! My first few months as a Volvo tech and I changed about 6 so far.