...Will there be a problem installing this restore set onto the new 40GB hard drive considering that it was made splitting a 15GB partition? ...
No problem at all.
When you image backup, you can select to backup entire drive or each individual partition. If you select the entire drive, the image will contain the partitions. You can choose to restore the entire drive or just one partition. When you restore to a larger drive, Ghost will automatically choose new partition size, which you can change to suit your needs.
I do this from a DOS boot disk containing Ghost ver 7. All partitions and drives are FAT32. One time, had problems restoring NTFS. I used to backup to CD's, I now use hard drives because they are faster and you don't have to keep changing media while doing the backup.