you can search for my tapered shaft calculator, it's an excel spreadsheet that will calculate final arrow weight of a tapered shaft based on the weight of a parallel shaft.
That will tell you what weight you can expect on a finished arrow parallel vs tapered.
Not sure you will lose 40grains by tapering but maybe. Might need to barrel taper to get there.
I'm working on my first set of tapered doug fir shafts ... mainly because they look cool. I can say its a bunch of extra work, if you're goign to do the tapering yourself, expect to put in some time.
Also I can tell you from testing that you will probably only gain around 3% velocity from a 10% decrease in weight, so don't expect a drastic change from 500gr to 450gr. If you're shooting 150fps @ 500gr, maybe you'll get 155fps @ 450gr. Or if you're at 200fps @ 500 gr, you might get 206 fps @ 450gr. The gains aren't much. You probably wont change point of aim much at all within any reasonable hunting ranges.