The design calls for a transformer with a secondary voltage of 44V, which I believe makes the rail voltage 40V.
That can't be right. How did you come to that?
I believe the quiescent current is 1.6A from what I’ve read.
That can't be right. How did you come to that?
Does this make the max power dissipation 40 x 1.6 = 64??
I don't think so. Do you understand what "quiescent current" is?
I think you are being a bit too ambitious for your first build. If I were you I would build it with plenty heat sink and later you can decide. You can always reduce.
Some back-of-the-envelope calculations.
A 44 Vac secondary rectified would give roughly about 60 volts with no load and, say, 45 V under full load. Of course, it all depends on transformer, load, etc. but let us assume generously we have 44 volts rail to rail and, say 40 volts peak to peak output.
Assuming a sine wave signal output 40 Vpp then we have 40/2/1.4 = 14 Vrms which gives about 25 W on a 8 ohm load and 50 W on a 4 ohm load.
That is a sine wave signal. Real audio signals have a much lower power factor.
For 40 W into 8 Ohm I would say you need a bit more voltage rail to rail, say about 60 V under full load.
Have a look at the attached schematic which I have posted before in another thread.