The main issue with the 040 is the integrated filter that can't be cleaned. I have heard of these being hacked out, but then you have no pre-filtering before the pump, which will shorten it's life considerably.
I agree, the Walbro 255 pumps are very good at what they do, as long as you get a genuine one. The newer 400L is an amazing upgrade over nearly every other intank, but these fail quickly with e85 use, hence Walbro released the 460L e85 tolerant design, with sealed power and e85 fitting kit. Any of these will outlive the 040 if fitted with the recommended filter sock imo.
The 255's are around $100 and will flow around 300kw ethanol and 350kw petrol, the larger 400-460 (around $200) will flow 430kw on ethanol and 550 odd on petrol. Make the choice based on projected power output, as you don't want more fuel flowing around the system than you need. You might even need to look at fuel cooling if you have higher fuel flow than your engine's requirements.
Any aftermarket pump will require hard wiring to battery voltage, through a relay and fuse. (there are a few 'How to's' getting around this forum.)
If you would like me to price up some pumps from my wholesaler, drop me a PM, you might be surprised how cheap they are available.