Brand new 2007 Volvo XC70 had huge unadvertised dealer rebates on them last month. I would assume they are still in affect.
With very little negotiating I paid close to 9K under sticker on a brand new one with all three major packages (premium, climate and convenience - MSRP $43,150).
I could have gotten over 10k off on a fully loaded model (~$48K down to $38,000).
If you don't need the AWD I would personally get the V70R (300hp).