03 - 04 were geared 14/37 for a 2.64 final reduction ratio
05 - 07 were geared 14/38 for a 2.71 final reduction ratio
14/40 gives a final reduction ratio of 2.86
My CRF250 came with 14/52 ratio of 3.71 - when I started riding it low was to low and 2nd gear was too tall - I wanted something in between - I changed to 13/52 ratio of 4.00 - now 2nd was not as low with 14/52 and low was only good for climbing hills. When I got comfortable with the setup, I found myself getting into 5th gear during a race and still getting passed. It was then I went back to a 14 on the front and put on a 50 tooth rear sprocket - that gave me a 3.57 final ratio which was lower than 3.71 and taller than 4.00 - another in between ratio. I liked that set-up and never changed it back.
I suggest you install a 15t front sprocket (if available), but you will have to shave the chain guide (#4) to clear the chain. A 15/40 will give a 2.67 ratio, which is still lower than the 2.64 of the 14/37and taller than the 2.71 of the 14/38. or just change back to the OEM gearing by changing the rear sprocket - It will be a bit more sluggish on the launch, but will increase top speed by 5 to 10 MPH.