So I've owned my 98 V70 T5M for four years now (205,000 miles currently) and its had a substantial amount of work done to it over the years. Just to rattle some off, over the past 70,000 the 98 has had a fresh head rebuild, silicone boost hoses, new 16g turbo with vacuum hoses, TCV, full ignition overhaul, cat back exhaust, ect ect. So the 98 runs like a top.
However I recently bought a 99 V70 T5M (225,000 miles) as a project car and have done the routine stage 0 stuff to make it reliable and driving 100%, nothing crazy like on the 98. I know that the 99 has a different engine management system, VVT on the exhaust cam, drive by wire, coil on plug, better intake manifold, angled turbo exhaust housing, and the turbo's boost pressure is regulated using a more sophisticated system than the 98.
Now, regardless of all the differences the HP # is identical between the two (236 BHP at 5100rpm's).
Having said all that I can't help but think the 99 has more power, or at least more torque. The 99 seems to have more torque and make more power lower in the RPM range than the 98. Up above 50 mph they both feel the same, but below 50 mph the 99 just puts me back in the seat more than the 98 and I was just curious if anyone has a power curve for both to compare side by side.
Anyway, thats what I've been thinking about over the past few weeks and thought I would see if anyone else had some interesting info to share. Eventually I would like to get a DP and a tune so the 98 has more torque, but as of now I can't help but think the engine management system as a whole is better in the 99 (minus all the ETM crap that seems to happen).