1) Don't run anything near the high voltage spark plug / coil wires. Crossing at a right angle is OK if you really really need to.
2) If you're using the stock CPS, it's a VR-type sensor, and should use shielded cable. DIYautotune sells short sections of automotive temperature rated 2-wire shielded cable. Connect the 2 VR signals to the inner wires, and connect the outer shield wire to sensor ground on the MS side, and to the 3rd pin of the CPS sensor connector.
3) If you're using a Hall-type crank sensor, you can probably get away without shielded cable, but shielded is better. For Hall, you shield the CPS output wire, wire the shield to MS sensor ground but leave the shield wire unconnected at the sensor end (just cut it off cleanly).
4) The injector wire(s) can carry 5+ amps, so they're a bit noisy. Likewise for ignition wires if you're not using logic-level coils and not using an external powerstage. Keeping these away from the other wires is nicer, but doesn't seem to be a problem in many OEM harnesses.
5) The sensor ground wire can be daisy chained sensor-to-sensor. Likewise for the +5Vref wire.
6) I think running the main MS grounds to the intake manifold is fine, but some folks insist that running everything to the battery is better.
7) Check your WBO2 documentation - some have separate sensor and power grounds, some don't. If it doesn't say, assume that the grounds are high-power and don't connect them to the shared MS sensor ground.
8) Follow the one-page MS/Relay wiring diagram in the MS hardware guide for fuses and relays. If you add other relays in the wrong place, your engine may not shut off.
9) If you've removed everything but the MS box off of the switched +12v power from the ignition switch, you may need to add a diode to the alternator-to-cluster Alt light wire, or else your engine may not shut off. The Alt light in the cluster can supply ~50mA, which is enough to keep a relay energized with key off if nothing else is loading down the switched +12v.
10) The premade 8' harnesses are nice because the wires are all different colors, are individually labeled, and are automotive temperature rated.
11) I don't know if Dave Barton has non-shrink harness tubing. I've used Raychem NETM1000. I think culberro@ has links to harness/wiring companies, some of which are way over the top for an old volvo.
HPAcademy has a few videos on harness construction, such as:
link