Volvo Repair: 240 cold start problem, fuel pressure regulator, vacuum leaks

Question
Hello,
My 1990 240 200k is having problems starting when it is freezing cold outside.  It cranks but won't start for a long time (if at all).  It is flooded - pulled plugs and they are gas fouled.  It starts fine after engine warms up, and runs well otherwise.

Searching your site and brickboard.com, I came up with the following list of possibilities.  Could you please check this list for accuracy (remove any that don't make sense, and add any that are missing).  As soon as I get your response, I'll start testing / replacing until problem resolves itself.

List of possible problems:
Spark not blue or white
Injection seals leaking
Vacuum leaks
Pressure regulator bad
Coolant temp sensor
O2 sensor
Fuel filter / Check valve

Thanks for your help.

Answer
Dan, the first one I would start with is the coolant temp sensor.  It definately sounds like its dumping too much fuel when cold.  Once the car runs, check the Fuel pressure regulator by removing the vacuum hose and see if any fuel is coming out of it.  Let me know.  Roger