Then give him back now because I guarantee your next water test (assuming you test your water) will have sky high nitrates aka poor water quality.
The people you know that have kept two O in a 3.5' tank have poor water quality. You think because the fish are alive and swimming there are no problems. Fact is I've seen many people in restaurants, businesses, etc. keep O in poor housing. Sure you think there are no problems because the fish are alive but fact of the matter is these fish have prolonged exposure to high levels of nitrates, and it will shorten their regular life span significantly.
As far as the O being happy in this scenario, bluntly put, you are wrong. This fish will be over crowded in a tiny 40 gallon and will have prolonged exposure to dangerous levels of nitrates due to the fact that there simply isn't enough water to delude the amount of waste these fish put out. Your O's future in a 40 gallon tank with 30% weekly wc is going to be HITH, ICH, lack of oxygen straining your fish, a shortened life for your O, and stunted growth. (at least you were hoping for him to stay below 14" right?)
You joined the site to learn and that's great but you don't seem to want to learn anything. You are being told the FACTS by experts that have kept these fish for years and seem unwilling to accept them. Sounds like you just want someone to agree with you that your O is going to have a good life in a 40 gallon tank with 30% weekly wc when the hard facts are he will not. Again I'm not trying to be rude/blunt but your coming off as someone that isn't at all open to learn rather someone that just wants someone to agree that they are right when in fact your definitely not in this situation. Give the poor O back to someone that can take care of him properly.