>>Anyone know how the M40s compare to the M22s?

I have not heard either (but am going to try to grab a pair of M40s) but from what I know they are very different animals. The M22s don't go very deep into the bass but have an extraordinarily clean midrange -- the M40s are full range speakers with nice smooth bass but (a) have the slightly recessed midrange common to M3, M40, M50 and (b) in addition, from the reviews, don't have quite as smooth a midrange as the M3s.

M60ti, VP180, QS8, M2ti, EP500, PC-Plus 20-39
M5HP, M40ti, Sierra-1
LFR1100 active, ADA1500-4 and -8