Surely an OS46 LA will be just as powerful as an OS 40 VF?
I looked on the OS site and couldn't find specifications for the 40VF. But if you assume that the 40VF is roughly the same performance as the 46AX, then you see that the 46AX (and 46FX for that matter) has 1.65 horsepower (actually pferdstarken, but who's counting languages?) vs. the 46 LA's 1.2 (bhp -- thank you, OS, for being consistent).
So no, an OS 46LA probably isn't as powerful as a 40VF.
More importantly, the OS 46LA is possibly the easiest big stunt engine to use (the 20 FP is easier, but it's little). Take it out of the box, bolt it on the plane, use it. Oh -- I forgot the important modifications: DON'T CHANGE NUTHIN'! (Unless you're just dying to have a conventional needle valve -- then change that).
The important part of a stunt engine's run isn't the maximum power it can develop -- it's when it develops power, and how. For that, a bone-stock 46LA will do you quite well.