One of the reasons I like .40 is because of a bit of analysis I did a while back. I calculated the volumetric wound capacity of a bunch of different bullets and calibers to see what the physical capacity to damage of each round was. I calculated it based on a 3 round defensive string as well as a full mag dump. The .45 was very strong in the 3 round category with the .40 nudging very close to it. 9mm was way behind and even 9mm +P lagged significantly. When you looked at the full mag dump capacity to wound, the .45 fell behind and the 9mm improved a bunch. But, the .40 still was way ahead of both in the full mag capacity to wound. For instance, a 3 round return string of fire from a 230g Golden Saber in .45 had approximately a 15 cubic inch capacity to damage. 185g dropped to 14.5 and a 180g .40 came in at 13.5 for 3 rounds. Standard pressure 9mms came in somewhere between 6 to 8 cubic inches of damage with the best +P coming up to 11.7 cubic inches.
Given the evidence that the vast majority of civilian SD shootings are done in 3 rounds (after 3 rounds, folks are either running, calling 911 or bleeding out), I moved more in the direction of the .45. It's still my favorite carry caliber, but I do appreciate the ability of the .40 to provide almost as much capacity to damage per round, yet still push close to the capacity of the 9mm.
The thing most guys leave out of the conversation is that for 9mm to even approach a .40 capacity to wound, you need to run a stout +P round and by doing that, you introduce just as much snappiness to the round as you had in the .40. Most folks compare standard pressure 9mm to .40 when shooting and come away thinking that they don't like .40, but then they load their SD guns with 9mm +P ammo. How many 9mm carriers practice with the same level of power that they carry with? There are some, but they are a small minority among 9mm carriers. The beauty of .40 is that it's always .40. You don't practice with a light round and then carry the full .40. You always have the .40 round when practicing. Or, at least it's very close.