Hello DH,
My point would be that the additives present in diesel engine oil are compatible by design with the the diesel engine and turbo, and the diesel fuel characteristics. Both of which are very different in a gasoline engine. What you do not want is to form deposits in your 740 engine from the additives in diesel engine oil; or risk the performance of the catalytic converter. What you can do is, for example, use Mobil One full synthetic oil, High Mileage, for gasoline engines. I personally use Royal Purple engine oil, Bosch filters in all of my vehicles, including the Volvo 960, change at 6,000 miles. I have a Ford at close to 200,000 miles that loses no oil between changes.
I would not use XX by 40 weight oil. The oil needs to flow properly to all points in the engine and turbo, filming for an adequate boundary layer on the metal surfaces. Back in the day, 40 and 50 weight oils were used in an attempt to stem oil loss through worn valve guide seals and piston rings. Engine lubricants are very much improved today.
I believe it would fine to use 5-30, or 10-30 full synthetic oil for gasoline engines year 'round in your 740, regardless of the mileage. I would not recommend using separate oil additives, which is actually also recommended against in the Volvo 960 Owners Manual. Changing at 5,000 with full synthetic oil and Bosch filter will virtually stop engine wear. Sounds like your 740 engine is still holding it's engine tolerances, excellent!!