Hi John, Thanks for the request, and Hello from Rochester.
I think the only way to remove the engine is as you've described. We simply undo enough things, then lower the engine/trans/subframe onto a set of pallets. We then simply lift the vehicle up, leaving the assembly on the pallets. Pallets are stable and make it possible to move the assembly around. We've never tried to remove the engines from the top, so I'm not sure if there will be enough clearance for everything.
For the CVVT, a cool and easy cheat to release spring tension in the CVVTs is to rotate the engine 1/4 turn past the timing marks. Then simply rotate the crank and cams counter clockwise until the marks are lined up. The CVVTs are now unloaded and should be easy to work with.
By the way, since this is turbo, do yourself a favor and replace the gaskets and orings for the turbo oil drains (tubes from the bottom of the turbos). The orings on the engine side fail frequently, and when assembled are no fun to get at. Just be sure that the new orings get seated properly without damage while sliding back into the engine ports.
Keep me posted, Thanks Bill
Hello again,
As long as the cam gears haven't been removed (such as for cam seals, etc) and we're just replacing the timing belt/waterpump, yes you should be all set. At this point, I typically don't even lock the cam gears. Releasing the spring tension makes it possible to do this without locking the gears. As long as you get the the timing marks lined up, you should be all set..
Bill
ASE Certified Technician
12 Year Volvo Technician/Expert Rated/Shop Foreman @ Best Volvo of Rochester, NY. ASE 1-8 + L1