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The pilot bearing is an inexpensive but vital part of your Volvo's drivetrain. It is also easily overlooked, and it's failure can masquerade as a variety of expensive transmission or clutch problems. The pilot bearing is located in the rear of the engine's crankshaft, and supports the forward end of the transmission's input shaft. Wear in the pilot bearing places undue loads on the input shaft bearing, the junction of the input and output shafts, and, ultimately, the output shaft bearing.
The pilot bearing is also exposed to any dirt and moisture present inside the bellhousing. I would strongly recommend that you inspect it and consider replacing it any time you have the transmission out of the car -- certainly whenever you replace a clutch. It costs only a few dollars and is readily available from most Volvo parts suppliers.
There are a number of tools and techniques used in extracting an old pilot bearing -- I use a slide hammer, which is primarily a body working tool. Check your shop manual for suggestions on how to replace this important part on your particular Volvo.