So, on this, it's really hard to predict the connection between the meter number and hypo symptoms. Different cats, different days, etc.-- some cats have been known to dip into the 30's or even 20's without symptoms, but then on other days start showing signs in the 40's or even 50's. Or they can be hanging out in low numbers seemingly fine, and then suddenly show severe hypo symptoms. That's why we use that 50 cutoff, takes the guesswork out of things, but it's not at all unusual for them to be acting fine in the 40's.
Depends, but usually I would break out honey if the cat dips below 40 or is otherwise being stubborn in lows. It's what you use when you want the quickest result possible.
In this case, Minnie is still early in the cycle and it's possible you'll be at this a while, so as much as we can do with food the better (more staying power, less chances of tummy upset than repeated doses of honey).