The real questions in my mind are (1) will it be substantially better than a Volkswagen CC, and (2) will it be a better car than the Volkswagen CC?
I think the real question is will there be Volvo in 2010?
No, that's not the real question. IIRC correctly, Volvo runs a net profit, even if Ford overall is in deep trouble. And Volvo has a lot of brand recognition. Even if Subaru and Audi match or sometimes beat Volvo in IIHS and NHTSA crash tests, walk up to anyone on the street and say "name a safe car," there's a good chance they're going to respond "Volvo." That's worth something too.
There's a real question as to whether Ford will keep Volvo to harvest its profits, or sell it off to get a big chunk of capital to reinvest in its core brands. But Volvo itself is in no danger of outright disappearing in the way that Saab or the Chrysler Group might disappear.