Or Type 100, Double Tap, Bandolier & Steady Aim. Use magnum with both.
The MP40 Spoils CODWAW, and is primarily why I've stopped playing it a lot. Everyone now is running around with the bugger, and usually Juggernewb. And the only way to beat these f**kers is to use the gun yourself, which after a while gets boring as hell. I think the game would be a hell lot better with this gun removed.