I had 15/47 for a while. It worked on flat ground, but uphill, or too much head wind, and there was NO torque to keep the bike moving at highway speeds. (it slowed down going up & over the overpasses) Now that I have 15/50 I have enough torque for holding the bike at 60 or so on all but the steepest hills. I might go with a larger rear sprocket, but I'll never go back to anything smaller than a 50.
Using a 14 front sprocket, the closest equivalent to my current setup would be 14/47. I think any ratio lower than that gives up too much torque. Your 14/42 would be like a 15/45. While the engine will theoretically red-line at higher speeds with a smaller rear sprocket, in reality you are less likely to get up to those speeds. Unless you are going downhill, with a tailwind, or drafting a larger vehicle.