Scott,
A newcomer to stunt trying to tame an FP40 (especially with a 4-2 break) is a bit like a newcomer to mountain climbing choosing Mt. Everest or Annapurna as his learning hill. When this engine was first introduced back in the day, it spawned a whole industry of guys trying to make it run like the older OS's and Foxes. As Martin pointed out, many who succeed do so by turning it into a gutless wonder, with about the same power as a .25, only heavier. Only very experienced engine guys are able to do better.
4-2 engines tend to be born rather than made for the most part: Brodak .40, Fox .35. Also 4-2 is no longer considered the ideal stunt run by many fliers, and nostalgia value is its biggest plus. It is easier and more reliable with modern engines to get a steady fast 4-stroke or moderate 2-stroke run, usually with a 4" pitch prop.
OS LA engines are some of the friendliest and most readily available engines to start with: the .25 as mentioned already for Ringmaster size planes, and the .46 for larger planes. You would probably be better off selling the FPs and getting an LA, or you might want to hold onto the FPs since you received them as gifts.
Also, where do you live? Maybe there are experienced stunt guys in your neck of the woods who can help out and also make flying more fun. Hope this helps.