You're not asking too much of the TW to do 40 miles a day, but that's going to require a big mental leap in how you ride coming from a 1200. The 10 highway miles would be my only concern on a TW, especially if it's anything like crowded Los Angeles freeways. You'll want to tune your carb to give you some more power for the highway miles, and you can even change the sprockets to get some more top end if you must.
The TW is versatile, and it's great to be able to ride just about anywhere, but it's nothing like anything in the 1200 street bike class, so be prepared for that psychology. Your old street riding buddies will call you a weenie and think you lost it for sure.
Too bad you can't have both, because that would be the ideal.