I never sharpen anything at higher than 30° inclusive. Literally any steel should handle that well for normal EDC usage. If it can't, it's not worth the trouble.
I've never used the 40° setting on the SM, so far as I can recall, except perhaps in using it to gauge how wide an edge is on a new knife. On occasions where I've had a new knife with an edge wider than 30° inclusive, I've always gotten around to reprofiling to within that limit or lower. I generally don't even carry a knife for regular use, until that's done. Once it is, it'll never see another sharpening at anything wider than 30°. Some of my knives are sharpened down to 25° inclusive or so. And with those, on the infrequent occasions I might add a microbevel, it also won't be added at anything wider than 30° inclusive.