The only comparision I can speak to directly is Paradigm/Axiom.

I used to own Paradigm Monitor 7's, now own Axiom M80's. I know it's not a direct comparison. M80's are worlds better than the M 7's. I've also heard the Monitor 11's, M80 are at least equal to and probably better, I did not A/B the 2 so I can't compare directly.

So the M40's are very likely to be a better buy than the M 7's.