JBJ is the one I have. Bubble counter and solenoid built into the regulator. I have my CO2 on a timer that comes on with 1/3 of my lighting, and the other 2/3 of my lighting comes on 30mins later. to get CO2 levels up before full lighting kicks in.
DIY should be ok for a 40 gal. You'd prob need 3-4 bottles for adequate CO2 levels, depending on your lighting. What kind of lighting do you have btw?
I had a friend that did DIY on a 75 gal, took 6 2L bottles to get decent CO2 levels for his tank. Personally, I don't think it's worth it to set up 6 bottles, and not just go pressurized. Too much time wasted, fluctuating CO2 levels, money spent on sugar, yeast, etc.