If you add point weight,you are moving toward the weak side,not stiff,but I think .500 spine arrows cut to 27" would need a lot of weakening for a 40 lb bow.Others that shoot that weight,I'm sure will give you some ideas.I wouldn't expect a small jump in point weight to do anything.A very unscientific guess,if I were trying that setup,would be to start at 200 gr point weight or go to a .600 spine arrow.
You can still bare shaft tune your setup.Just get closer to your target,shoot a lot and average the results.Read the tuning information at bowmaker.net and go from there.
If you download stu's calculator or have someone run the numbers for you,you can get that pretty close.I believe though, for point weights in the 125 gr range you will need .600 spine shafts,possibly cut longer.