JCB,
It's been referred to as a 60/40 as a carry over from the 2-cycle days and that of course is often not corrected as, it may drive our buying decision? But, its a 40 powerhead and you'll be pushing more like 29-30 at the nozzle. If you get a moment call Mercury Customer Service and ask them straight up and they will tell you the actual HP at the jet nozzle for any 4 stroke jet you may wish to rig. Or they'll give you the direction to deduct 30% from the powerhead rating.
The 2 cycle jets used ratings like: 90/65, or Yamaha 50/35 etc. The four cycles are using the powerhead HP and it's up to us to do the math and deduct the approx. 30% loss of HP from the power head so: 115 X 30% = 34.5 loss of HP or, to put it another way 115-34.5 = 80.5 which is the 2 cycle 115/80 Jet or the 4 cycle version simply 115 Jet.
Now the good news, that 1752 Blazer will run very well with the 40 Jet (4 stroke model) especially if you ask Calvin at Blazer his trick for rigging it, he'll get you about an extra 3-5 mph just with his rigging tip with no change to the motor; just its setup and a bit of tweaking till you get it at it's sweet spot.
If you're not from Missouri get a list of Dealers from Blazer and price the options you want; you'll find some very competitive pricing on the Blazer 1752 Sport, Merc 40 Jet & Rivercraft Trailer. I sold my 2007 this year and will be ordering a new one hopefully late Feb. nothing wrong with my boat, it was barely used when I got it (at a good price) it was a tiller steer; but with a bad shoulder the clear choice for me is a 1752 with console steering.