Thanks everyone for the ideas, I tried it all - magnet, wires, vacuum cleaner (my mother and the neighbors were quite amused), but the bolt would not show any evidence of even existing.
I'm afraid pulling the turbo might be more than I can handle, so i am going to leave it alone and hope for the best - I am also half convinced that it may have fallen elsewhere (it did sound like something going into a coke bottle though), I figure I would have or should have felt something as I shoved various wires deep into the turbo. It is a big bolt, about an inch and a half long, it should have made an appearance...
So to other problems:
*The passenger side shock has a good 1/4" of free space between the rubber washer and the body - that ain't good, is it?*The backwindow seal looks like it did time in the desert - is this something that happens to all volvos this vintage? I noticed the newer ones have a plastic-type molding thing protecting the seal from the sun, is there one for this car?
I built a site with pictures of these issues- if you click on the pictures you can see the full size.
*The alarm...bought a remote on ebay for $13 including shipping, paid the dealer $55 to reprogram, it works, except it does not make any noise. Even if I press the "panic" function, I get the flashing lights but no loud siren. Any ideas?
Funny story: the used car dealer I bought the car from went on and on and on about the new battery they bought for this car...I was worried that this was their biggest selling point, but went with the carfax and my own judgement. Now, two weeks later, I'm screaming (phone) at the volvo dealer who programmed the remote that they ruined my car - after I drove back to the folks all the intruments and warning lights went haywire, the radio turned itself on and off and the car would not start. After hanging up I poked around I found out the "brand new" battery was dead, and could not even hold a charge. Short trip to Strauss Auto and everything is fine now. I almost called back to apologize.
Thanks agian,
Rob