My suggestion for using a Fox is to *leave it alone* mechanically. Most of the alternate spraybar assemblies (PA, Jett, ST, ST Clone) will fairly substantially reduce the power by reducing the choke area. Nitro is by far the easiest and safest power improvement. Unless you find some problem with the stock unit (and have addressed the needle seat issue) you will note that the guy who knew by far the most about Fox 35 Noblers - more than Aldrich himself - used a stock spraybar
You definitely do not want to run a smaller prop, a 10-6 of some variety is almost always the best way to go, and there is a huge variation on them that have dramatic differences. I always did the best overall with a Tope Flite 10-6 regular-blade prop but on some days you could use different types with some improvement. If anything, with more nitro, you might be able to explore with an 11-5, which is generally too much on an average summer day on 5%, but has possibilities in cooler air or more nitro
The 40FP is not a little more power, it is a rather extreme increase in the performance when run properly and is under control. The best-case weight and trim is radically different from a Fox to a OS40FP, it tolerates much more weight and may benefit from more weight. The problem most people have with the 40FP is that the power is far beyond their capability to deal with in such a small airplane, since it is about 50% too much when set up correctly. That is why I would use a 25FP, which is still a rather drastic improvement over a stock Fox on 5%.
Brett