Will you still have proper steerage and propulsion at 40 degrees of heel?
The mentioned video is this one: Boat Balls - YouTube
How will you attach the water bags to your masthead? If the sheaves are fixed, will the halyard jump out of the track and jam? How long will it take to rig, and will the time (and risk) savings be worth it?
Have you had the boat over that far before? I know our Contessa likes 15-25 degrees of heel, but our narrow hull likes it over that far before it locks in. I wouldn't feel comfortable at 40 degrees... and inanimate objects in the cabin and the animate objects in the cockpit wouldn't like 40 degrees either.