Shuman, on my VP DP drive there is a dipstick at the top of the drive which sits just above the waterline. One of the few "convenience" items that Volvo has. I have never actually checked mine while in the water but noticed it and thought it was a good idea. Outside of that and the water pump inside the engine room, I miss my Merc! It was set up so much more mechanic friendly
When I am at the boat this weekend, i will try to take a picture of it since my boat is in the water. I also dont know if it was made different in 2000 versus the newer models (mine is 2006).