Using the WiSpy 2.4x from Metageek (www.metageek.net), it is possible to visualize the RF spectrum.  In this picture, we can see the impact of a 40 MHz transmitter operating in the 2.4 GHz band using a primary channel of 2.412 GHz (channel 1).  This leaves only one remaining useable channel in the 2.4 GHz band.  Imagine this same transmitter on channel 6 (2.423 GHz).  The impact?  No other useable channels in the 2.4GHz spectrum.