Easiest thing is to go -1 on the front (16-tooth). You don't have to lengthen your chain, because the front sprocket is smaller. I wouldn't go any smaller than that because it changes the ramp angle of the chain and can wear it prematurely. That, and it might rub a little more since the diameter is smaller. Going to a 16 on the front is similar to going to a 42.5 on the rear (obviously not an option), so most people use either a 42 or a 43.
17/40 (stock gearing), you're at 2.35:1 gearing
17/42 (+2 rear), 2.47:1 gearing
16/40 (-1 front), 2.50:1 gearing
17/43 (+3 rear), 2.53:1 gearing
That's only about a 6% change, so it won't throw your speedo off too much, and you will notice a gain. Then, when that gets old, go to a 42/43 on the rear.
Since the rear sprocket will be getting larger, chances are you'll need a longer chain to support it.
16/42 = 2.625:1 gearing
16/43 = 2.688:1 gearing
The difference between the two is less than 3%, so it's a matter of price and availability (or personal preference).
If you choose to go with the 16/43 gearing (that's what I've got), you'll scream on the freeway like you're in 5th gear because it changed the gearing by almost 14.4%. You'll be at around 160 MPH at 10,200 RPM in 6th gear.
I've ran it at the track (road course, not drag), and didn't have much of a problem with it wheelying. Yes, it would come up, but it wasn't like it was gonna buck me off or anything. Once you get used to it, you'll keep the front from coming up more than an inch or two.