Looks like a project I would take on.
Those connectors are getting rare, but are still available:
ebay.com link: Connector 40 Pin Dip to Ribbon
The tough part will be getting it crimped on correctly. IIRC, they used special dies to keep everything aligned while crimping. And you're making 40 IDC connections all at once, so it take considerable force applied evenly.
You'd be better off (and a good bit lucky) to find a cable already made.
They were used a lot in video game conversions where the cpu was removed and plugged into a new board that contained the game roms. The new board was then connected to the original board through the original cpu socket.
Best of luck!!