I actually thought the current structure is fine for $40m... I've drafted more teams for $40m with a wider variance of strategy than I have in a long time. I will agree, however, that the last pricing update made it much harder than in the previous salary structure and the current salary structure has eliminated $40m themes such as the franchise leagues or the sub-$40m leagues like Jack used to run ($35m, $30m, and even $25m leagues)... I haven't even considered a $25m league under the current structure, but was in two in the prior salary structure.
Here's hoping the next update allows for some of these fun low cap leagues again, and maybe we can fill the $40m TOC faster.