Well there is a handy block and tackle set up that can help you handle that 40lbs with a lot more control.
That's what I use. I have a 4:1 set up and attach it to the main halyard, then run the halyard up high enough to ensure that the "handy billy" and motor will clear lifelines, etc.
Then I guide the motor with one hand and control the lift with the other.
Oh sure, on a nice big boat, one might have davits for all of this... but on a small boat, a "handy billy" is indeed a handy thing.