I just stumbled upon this thread (having myself been inactive during the time it was active), and wanted to add some info about the Dan Theil/Wayne Baldwin car.
I've know the car in question since about '91, when I first met Dan Theil. Over time, I figure my parents and I have paid for both of Dan's kid's college education.

. Kurt's Garage (his shop) is my go-to place when I have a Volvo problem that I can't solve.
Back in a decade or more ago, when I was still writing the competition column for Rolling, I had a chance to talk to Wayne Baldwin and one other VP at VCNA whose name escapes me. I asked about them about the history of the Rally GrpA car that Dan Theil has.
The car was built from the spare GrpA parts as a way of showing what could be done with the competition parts. It's first and only public appearance as a Volvo built vehicle was at the NY Car show of that year (1981?). One of the head officials of VCNA (or maybe Volvo) saw the car sitting in the Volvo Stand, turned to Wayne and his friend and said "Volvo does not build race cars. I don't ever want to see this car again."
Wayne and the VP competed in the SCCA Pro Rally series a few times. It was rolled once. Eventually the car was shopped around for a buyer. Bill Maher, a local Rochester racer at the time (who last I know owns one of the original IPD race cars), was given the option to buy the 16V beast. He passed and I remember Bill saying it has some problems running because it was running factory fuel and/or ignition systems.
Eventually, Dan Theil bought the car. He ran the SCCA Pro Rally series first in it competing in the Open class. Eventually a friend (Gail McGuire) came across the Group A homologation papers for it, at which point Dan Theil went to Group A. In '91 (or was it '92) Dan and his navigator (another name I can't think of) finished 2nd in Group A to a factory backed Subaru Legacy GT. Dan's was a privateer effort (which I am sure I well funded at his shop -- we never got cars fixed at the shop just before or after an event.

).
At the time he was running, the 16V head was gone and it was running a built 8V head with water (50% alcohol) injection and the correct Getrag 5speed.
About a decade ago, Dan restored the car and dropped in a B230FT motor with a "modern" FI system. Dan claims the car runs better with the stock motor then it ever did in full race trim