I've reloaded a 40 or 2 in my days, just happened to load 1500 this morning.
The 40SW operates at a higher pressure than the 45ACP or 9mm, and as such, there are no +P+ loading for it. Your loading manuals will give you some good loads to use.
I use a 40 in pistol competition and shoot 10-15K per year. I load a 175 grain hard cast SWC bullet over a moderate load of Hodgdon TiteGroup powder. There are lots of great powders for the 40, Bullseye, Unique, TiteGroup, 231 just to name a few. Most people in competition use 165 and up, and more of them use at least a 180 grain bullet. In the type of competition we shoot, the bullet must meet a certain energy to get a higher score. The heavier bullets will actually give a lower recoil impulse than the lighter bullets, therefore you can shoot faster.
As for a hunting bullet for the 40, several companies make great bullets. Speer makes the Gold Dot, Remington makes the Golden Saber, Federal has the Hydra-Shok and Hornady has the XTP. Any of those would make a great hunting bullet. Your main objective would be not trying to stretch the round farther than is practical. Personally, I'd limit my shots to 35 yards or so with a 40.