Since you don't have a cold hydraulic system to fight the things that may be fighting you are ignition, fuel, cylinder sealing, valve clearance and too thick of engine oil.
Does it start easy at 40 or 50?
First, unless you're trying to only keep one grade of oil around, then there really is no reason to run 0w40. In fact, if you read the manual, you will probably see that a 20 grade is recommended. This is because the engine temp is completely dictated by ambient temp. You may find that at temps below 0, your oil may never get above 100F.
Spark is easy enough to test.. pull your plug and wing it over. If it's got a good blue spark, you're probably fine. The plug could be an issue? You said DR, so is this a clone engine with a Chinese spark plug? May be worth changing.
After that could be valve clearance - does it have a valve cover? That would make it overhead valve and therefore easy to check and adjust.
If it otherwise runs fine at those low temps then it's probably not a fuel issue - but I would make sure that your choke is fully setting.