Good Idea Ray, Go for it!!
I did it to a Hobbico Superstar 40 after one of the "rebuilds" . Do as FLYBOY said. I would add.... DON'T freak out trying to keep the axles within about 1/4 to 1/2" forward of the wings leading edge. Find an area close to the "target area", but place it where you have sound construction. That is the MOST important. I have converted, and done to NEW kits, moving the gear at least an inch forward. I took my gear off the wing of my 1/4 scale Spacewalker and it is now on the fuse, 1 1/2" ahead of the leading edge. I know I will catch flack about that tip.... but I have NO problems at all. They ground handle great, less tendency to tip over, and take off just fine.
Secondly......try to rig a steerable tailwheel. The castoring type didn't work for me on grass. I used a "bare" 2-56 control rod, and rigged a steering arm on a cheap tail wheel. (it did have to "work it over" a little). I ran the BARE control rod from the other side of the rudder servo arm and just cut a small slit at the rear side to exit the fuse. Re-enforce exit area if possible. The length of the LT-40 is longer than my plane was.. but the bare rod on mine worked fine without running a tube. It only steers the wheel on the ground....... and........ if you hit hard on the tailwheel, the rod will give a little and create less shock to the rudder servo.
I am not a "build light freak", but watch your weight on the tail. When you balance the plane the LIGHT .40 LA may not be enough weight to balace without adding nose weight. The .40 LA will need all the help it can get .... unless you are taking off from pavement. If you have to add nose weight.... do it in the form of a heavy hub from Harry Higely. (or keep any ballast as far forward as possible). Keep that in mind with the battery,RX, and servos too.
.... good luck ...... lownslo..

Bob