Caracal,
Good to see another Caracal Cat, especially with a Suzuki 140 on the forum! You will find that the Tom Cat handles very similarly to the Caracal...and has about the same ride.
I figured that mine on the Float On Trailer was at least 37 feet with the motor trimmed in, and could easily be 39 if the motor were trimmed up.
I would not suggest a folding tongue, or any way of shortening the trailer. In my opinion the Float on Trailer made for the Tom Cat is the best.
Good luck with your search. You will need a 3/4 ton truck to pull the Tom Cat. They are at least 10,000 lbs on the trailer ready for the road.