I have a S45HP with the "Top Gun" modulator and it will bust the crap out of a signal that is all carrier. Dead key set for 2 watts and swinging to 80 watts and no amp got heard on the "Pooper Bowl." I just called in and asked "Why are you little mud duckies on my channel?" The chaos that ensued was a hoot to listen to.
Not a fan of that top gun modulator. In stock form mine was "loud" and it made the meter bounce around a bunch, but it got out, and sounded, much better with it removed.
Back on topic... What's the point of a 40:1 ratio though? If a radio is capable of 80W PEP on AM, then it should be capable of doing that 80W PEP with a 20W carrier, a 4:1. If you want super punchy and extra loud audio, you could go to a 5:1, so a 16W carrier, or somewhere in between, as long as you don't pinch or clip. You'll sound great on any receiver, not just the ones that can handle high radios, and the AGC won't be pumping, on the receiving end, on pauses either. I'd bet that everything else being identical, that radio with a clean 4:1 would out talk the way it sits now. While your PEP might hit 80W, you're average is significantly less. This also causes the signal to fade out more in step with the distance away from you. I hear this all the time when I'm in the truck; blowing my ears out as they pass, then they just get progressively quieter. A normal ratio remains almost the same volume right up until the edges of their range.
Going the other way, less than 4:1, is even worse, I think. You're taking power out of the sidebands, which is where your audio is, and you'll sound quieter in comparison. You might be able to wipe people out with just your dead key, and bust through that way, but that's not for me.
I try to copy what the broadcast stations do, just on a much, much, smaller and cheaper scale. This hasn't failed me yet.