I have had one for a couple of years. I did a fairly diligent search for the smallest, most powerful hand gun I could find.
I found the very small ($1000 Kimber for example) .45's to be too much bullet in too small a package. This made control and second shots marginal at best and for me, unacceptable.
But the MK40 is very small, as you know, and it weighs enough to make it controllable. You will not do quick double taps with it unless you have a gorilla grip, but sequential shots are very manageable and controllable.
There is no +p ammo for a .40 but a round like a Pro Load, set to full SAMMI specs, is very powerful and has noticably more snap than your average off the shelf .40 round.
The only issue with concealment is you can not (I can not) carry the thing in your pants pocket easily because it weighs about two pounds. Inside waistband or inside a leather jacket is a piece of cake.
I picked up the wood grips from Kahr and it looks nice. The other thing I did was to purchase the Pearce extensions for the magazines. This little extension made the pistol very controllable for me. Without it and with a little sweat on my hand it is very hard to control.