The 1940/7 is sorta high kv @ 2200+, just how many cells are you wishing to run it on? It should be well suited to 4S, and 5S if you want to go nutty. I think it would do really well on a MM.
I'd say the MM should be fine with this motor on 4S. (ubec and maybe fan goes without saying). If you don't gear it too high, I don't see a problem there. I run a 1950 with similar KV and am pretty happy, altough for extended runtimes I'd suggest a lower KV (to keep motor temps lower, temps on the MM have never been a problem for me)
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well to get to the 3500rpm sweet spot, it would be between 12 and 14 cells max (just over 12 with my matched packs). i have no need to add more cells than 14, but it's a higher torque motor so i should be able to gear a wee bit higher to get higher speeds (low 40's would be fine with me)... right? then i'd probably be putting a big strain on the esc. i have the strobe with 51t spur and 5 mod1 pinions that range (i think) between 12t and 16t.