Any automatic trans. hooked to a 40 HP stock model A is going to be a significant loss of power. The engine can be souped up to increase HP but then there is always the weakest link in the frame or drivetrain that people experience. I don't know what change in mileage would occur. The advantage of having an automatic and ease of driving might outweigh the power loss for many people. Here's a list of power loss on popular transmissions published by a Car Craft article.
Powerglide - 18 hp
TH-350 - 36 hp
TH-400 - 44 hp
Ford C-6 - 55-60 hp
Ford C-4 - 28 hp
Ford FMX - 25 hp
Chrysler A904 - 25 hp
Chrysler 727 - 45 hp