The BAR did come with a 40 round mag as well, so it wouldn’t be a stretch for DF to make another BAR with a 40 round as opposed to the belt fed, but I would accept either. 
This would be an easy conversion as well for a modeler as all they would have to do is lengthen the magazine and add a new BAR model name designation, like BAR1918A2/40.
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They only made ones for 60 and 100 rounds, but they were usually underloaded by 3 or 4 rounds to help reduce malfunctions.
I would still keep it at BR 4 as it would be similar to the MG-42.
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From what we see with other mgs that have a “base” variant then a new variable with more ammunition, the rule of thumb is generally “br of the original +1”
(Dp at br3, then belt dp at br4. Or mg42 at 4, then long belt at 5)
So it does make a lot of sense 
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So if it is just like a MG 42 then does it also get the penalties of one?
Or do we only take the upsides and ignore the downsides?
Will probably get slight penalties just like all other mgs.
Small things like a bit slower ADS (logical with long belt dangling around), perhaps a bit slower sprint speed, or even a really minimal recoil nerf like Mg42 100 (think it got a mere +1 to vertical & horizontal but at such rof it’s noticeable a bit).
In short don’t worry too much. Wouldn’t be power creep, just really cool to use.