Forty minutes might be enough. Make sure it's very early in the morning (6 AM is a good time!). Never water midday, evening, or night.

40 minutes a day for each station seems like waaay overkill for new sod.

Good possibility, but it depends on the soil, rate of water flow, etc. Ya definitely don't want to turn the lawn into a swamp. (-:

But, unless you're covering a sand pit and assuming you are watering at a reasonably normal rate, you're probably right on the "waaay overkill" statement.