And … supplementary question … if I go 1×11, will a 40/42 chainring and a 11-40/42 cassette play nicely with my Rival (med cage) rear mech?
Yes, but consider this, if you’ve worn out your inner (I’m guessing 34t) ring on 2×11 Rival which I’m guessing has a 11/32 cassette, don’t go fitting a 42t front ring on a single as you’ll be walking everywhere.
Lets say you’re on 700x38c tyres, not massively important for this part, in your lowest gear of 34F/32R you’re moving 2.3m for every turn of the pedals.
Now with a 40t front ring you’ll need a 42t rear to move 2.1m with every turn or 2.4m in the 36t at the back.
With a 42t front you’ll be in the 42t rear all the time you were in lowest previous combo to do 2.2m, fractionally easier but a long time spent at the extreme of the cassette.
Bosh a 38t front on there and you’ve pleasantly sat in the 36t on the back to get your lowest gear.