Daniel, think of the differences between 35 & 50 in terms of how they are used. Because it is a wider angle of view, a 35 gives you the option of including more in your photo or getting in close to your subject. The 50, on the other hand, is often thought of as a short tele, or a short portrait lens, because it allows you to put a little more distance between you and your subject. You can achieve shallower depth of field with a 50, which is another of its characteristics that is useful in portraiture.
The 40 represents a compromise between the two. It has more depth of field than a 50 & is therefore easier to focus quickly because you don't have to be so precise. Depth of field will keep a lot of the picture in focus. Like a 35, it is a good lens for shooting people because it is wide enough for groups &/or you can include some of your subject's environment in the picture. Being a little longer than a 35, you don't have to get up quite so close & can shoot at a little more of a distance with the same effect - more like a 50 in this regard.
Because it is not as wide as a 35, it is not as useful in tight spaces indoors. You'll more quickly run out of room when you're backed into a corner. Like a 50, you can still use it infoors to great effect, but its just not as versatile as a 35 in these circumstances.
Because of these compromises, some people don't like it, feeling that they don't quite have the benefits of either. Because it is the perspective closest to what people see with 2 eyes, others like it because the perspective seems so natural. I like it.
By the way, I enjoy your questions & comments. 🙂