I own 90* elbows and ball swivels. I haven't bought any 70/110/120 elbows, but would recommend those over 90* for comfort purposes. Kirby Morgan makes them in a more durable configuration as I have seen some threads strip and shoot the end out. Not cool. The 90's are great for regs that go behind your neck, but for the 40" the more open angle is more comfortable.
I own the ball swivels from Cave Adventurers as well as Omni Swivel. I got the Omni's for a song and a dance and prefer to use those but for no real justified reason. I prefer them to the elbows because you can get the exact angle to help reduce jaw fatigue. Unfortunately with the 40" you can't escape that weight which is why I'm now diving a long hose all the time due to my TMJ *thank you bagpipes...*
The key to the ball swivels is to follow the damned service instructions and intervals. Brian Kakuk doesn't allow them in the Bahamas which is insane because there is no justified reason for it. Most people don't service them at the intervals that are spec'd and if they do, they don't put blue loctite back on the screw that holds the two halves together *which is spec'd btw*. When you don't put the loctite in, when the reg is pressurized and you turn it counter clockwise, there is enough pressure against the screw head that you back the screw out. Do that enough and the o-ring extrudes. Follow the service intervals and instructions, and it's a non-issue