Where are you getting Sky Sport for $40? Just had a look on the Sky website and the cheapest option I can see is starter for $25.99 plus sport for $31.99. MySky is still an extra $15 although they no longer charge $10 for HD. Main price drop is the starter/entertainment split which used to be about $50.
Edit: Re-read and I see you meant the new app. Haven't investigated that yet so don't know whether that gets you everything live and on-demand or whether you still need Sky TV for some channels and MySky if you can't watch live.