Thanks for all the tips guys, I really appreciate the help.
As mod pointed out the v70 has an electronic throttle. And I used the wrong spacing (a piece of paper rather than a business card) so the groove was far to close to the butterfly. So i filled it back in with jb weld and got the correct spacing. And now is working great.
Just to add to the "corporate knowledge" I thought I should mention that if you are doing a early 2002 v70 and you make the mistake I did the symptoms will be as follows. Cruise control will go out, shuddering in the transmission while driving, stalling at red lights, reving very high, car putting itself in "limp mode", and sometimes the car giving itself throttle without warning.
Once again thanks for you guys help!
-Matt