Dave, it has done this since I have had it. Cold weather or warm and it does it even once that car is up to temp.
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Definitely fuel. Could be injectors, fuel distributor, or warmup regulator. You'll need some test equipment (gauge set) to know for sure, but the quick test is to do the injectors- in-bottles test that's been explained here (I think, if not say something). I'm betting on injectors as others have mentioned, but I've seen the FD cause this as well.
Before you start swapping injectors though make sure the tank has been antiseptically cleaned, new filter, new accumulator, etc. or you will just plug them up again.
Who has best price on injectors?
I believe Rock Auto still sells them for around $40 if you order them under an 86 Volvo 760; for some reason they're $66 if you order under DeLorean.
The Bosch 0437502022 PN is what was stamped on all my injectors.
As pointed out a lot of things can cause this symptom. On one car the frequency valve was not working. All it took to fix it was to take the plug off the valve and put it back on several times to clean up the dirty connections. You can't properly fix this by throwing parts at it. In the process you will be taking off a lot of good parts and may actually fix the problem by disturbing the actual cause and not even know it. You will, of course, believe that whatever part you replaced at that time was faulty and now it fixed it! Go see of the frequency valve on the right valve cover is buzzing. While you are looking, see if there is a plug in the mixture screw hole.
David Teitelbaum