I have 12 bolts and usually only use 10 when going up. I've always pre drilled my trees and just carried the bolts up in a pouch on my RCH or now my kestrel. Ive never had one come out on me, if its a soft tree I drill at a little bit steeper angle. I use a regular 3/8" drill bit and just kinda wallow out the hole to get it clean for the bolt to go in and out.40 bolts???? WOW! I only carry 12 bolts. Almost always drill 10 bolts high (20 feet for me) and almost never leave the bolts in the tree. Put them in going up and pull them out coming down.
Its a really good system, very compact, reasonably lightweight. Its my 2nd preferred system after my spikes