By using the word survive, sure alot can survive, but thrive is a different story. Mushrooms, button polyps, some gorgonians, (as mentioned above), green star polyps, sponges, and frogspawn. Some of the singularia will also survive. If you decide to do so, I would recommend the you use a trition 10K bulb and a good actinic, like a blue moon.
Although it is not recommended, I have keep all of the above in an 80 gallon tank for a few years before I upgraded to PC lighting. Christmas tree rock, and feather duster will do well too.
Make sure you have high water quality, and add lots of live rock. Lavender rock, (a frilly mushroom) will also survive. Some of the encrusting corals or should I say false corals will also live. If you can wait for better lighting it would be better for your livestock, but with the above mentioned bulbs, it offers you the best solution for 40W bulbs.
I may get "condemned" for these suggestions, but none the less they will survive, and some will even flourish, I know this from experience.