I haven't had a M40, and do have a Contender Carbine and H&R Topper (with Mannlicher stock). Of the 2 that I have, I prefer the Contender, and will be listing the H&R in the H&R classifieds.
If I was buying new, I would go for the M40. I have a Savage 11 with an accutrigger, and love it. I would expect the M40 to have a better trigger than a H&R.