I have a 2001 S40 and its a great car. Pretty darn quick too. In stock form it is probably slightly slower than the CSVT's, but for 800 bucks I can get another 80 horsepower out of it bumping it to 250 and only weighing about 3000 pounds.
Another couple options to look at with the GM pricing that are slightly more than 15k are the SS Cobalt/Ion Redline and the Saab 92-x Aero.
2001 Volvo S40-Perrin MBC@ 11psi, EST intake, 35% tint, still slow
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