I have an A200 housing which is similar to the A40 housing in construction, material and design. The Powershot polycarbonate housings are custom made for a series of Canon cameras, you should be safe within the recreational limits of up to 130' but stay within its rated range of 100'. Since the camera won't operate beyond 90', its really an issue of whether to carry it with you on a deep dive, to use later during the shallower segments of the dive.
When housing's leak from diving beyond its depth range, they leak primarily from the lens seal. Since you cannot care for this seal, its behind the screw casing that covers the glass lens in your housing, it eventually builds up crud that works its way deeper with each succeeding dive until it breaks the seal, causing water to leak in. This crud doesn't get rinsed out because rinsing is not under pressure, compared to the dive. If you are handy, you should dissassemble the front lens housing yearly, clean it out, lub and seal it, and pressure test it on a dive before mounting a camera in it.
I have done 100+ dives with my A200 housing rated to 100' to as deep as 180' without issues, until dive 80, when I took it to 150'. The cost to repair a salt water flood was $200 so I just bought two second hand A200 for $70-100 each as backup. Consider these costs when taking you camera to depth. The A40 is now down to $180, new. Flood insurance is $100/year, typically.
In general, the buttons become stiff near 80' and stiffer still as you get deeper. As you descend, the o rings squeeze against the shafts of the buttons. You won't be able to adjust anything, for the most part. It varies, but to maximize your depth range for photography, turn the camera on at around 60' as the shutter button is the last to go. You can then at least hit the shutter button near 80'.
Underwater photography requires you to be a master of diving at the depths you take pictures. Photographers are all distracted by their subjects, and generally intuitively know when to check gauges or if there are problems with their dive ... before it gets too late. Unlikely many underwater digital housings, every button on the camera has a button on the Canon case. This is convenient, but can be very distracting if you fidget with buttons at depth and for diving, the Canon cases have too many points of failure for a flood in the future.
Several Canon housings are positively buoyant [corrected from earlier post], so worse case if you let go, someone may fish it out for you. To avoid exceeding the depth limit, I attach my housing to a spool, and let it ascend to a depth above 100' until I'm done with the deeper segment of an open water dive, then reel it in for photos. For square wave dives past 100', I don't bother bringing it.
Be warned, unlike digital cameras sold by traditional diving camera manufacturers, Canon completely voids the warranty of the case and the camera, if you take it diving even if new. Please check your warranty, it may have changed.
The movie mode can be switched in-out very quickly, and you can take movies very fast, such as when these sharks came out of nowhere, cruised by me, then dissappeared as quickly.