I would bolt the OS 35S in, it might even match the FP40 holes. If it ends up tail heavy with the .35 play with mufflers, my .35S like muffler pressure and a wet 2 stroke, but that is on lighter ( Oriental / Twister) airframes.
You can always needle it up a few hundred RPM or tip the nitro if you need a bit more grunt.
The .35 seems to plug along steady, and my own experience and a lot of others is that the .40FP will speed up and stay leaned out after a while, making for an excihting last 1/2 a tank or so.
The FoX is down on power compared to the OS, but it is light. Don't know if you have to run mufflers or not- but the OS doesn't care, and a Fox can get a bit testy if the muffler has too much restriction / cuases it to heat up.