With that gear, you are ready to haul in 100# bft
... the yt won't stand a snowball's chance in hell unless you drop that $$$$ accurate over the side and want to cry/never fish again
THe MXJ doesn't make enough drag to really fish 40#. It only does somethig like 9# max at strike. It is more of a 20-30# reel for people on boats who need line capacity at lighter line classes, whereas we can get away with itty bitty teeny tiny reels on kayaks. Fish it with 30# and set it to ~8# drag at strike, then you can give it a little more if you need it.
Some smart person on this forum snaps his sabiki to the ring on his ringed circle hook (use ringed hooks or learn to tie a kreh loop, btw) on his flyline rig, which is pretty darn clever. Just snap the sabiki off when the bait tank is full, et voila.