You have ethernet, but I would still recommend buying an IDE to CF adapter in the form of a blanking plate / back panel, a CF card and a USB CF card reader. It will connect to the internal IDE connector instead of a Hard drive and allows for very rapid transfer of files to and from the PC. Cost = $20
I recommend a registration of WHDload. Cost = $25
SFS file system, it will seriously improve your hard disk performance. Cost = $0
Install some OS patches to speed up a few things, perhaps try SystemPatch all in one? Cost = $0
What's the IV64 card like? No Picasso96 support and No CGX support. i.e. nothing works!! Is it worth upgrading to a Picasso IV with scandoubler? Cost = $300
Which 040 card do you have? A3640? Any of the 060 accelerators with FAST RAM would be a good step up. Cyberstorm MKIII is the best but the most expensive. Cost = $400+ :-(
OS3.9 with BB2 and patches. Cost = $50
A CD drive in the A4000 will use IDE, but take note that IDE CD drives must be 3/4 length drives to fit well and you will need some CD software, either AmigaOS 3.5+, IDEFix97, ASimware etc. I do not recommend getting an optical drive. Using the CF card is much easier.