There is an interesting article on the use of computers in cold storage areas at
http://www.lxe.com/uploadedFiles/pdf/White_Papers/WhitePaper-ColdStorageComputer s.pdf that might give you some clues, Leaper.
I personally doubt that you will have much trouble at 42ºF (if you can stop your fingers from shivering so much that you can't hit the right keys on the keyboard!)
Nevertheless the sudden change in temperature that occurs when you turn it on could certainly cause some stress and reduce life - some components like CPUs and GPUs are going to heat up very quickly and the lower starting point is going to increase thermal stress if it has been off. I'd be more worried about this than the effects on HD bearings or fans (the operating temperature range of Seagate notebook drives , for example, ranges from 0ºC / 32ºF to 60ºC)
Lithium Ion batteries work quite well down to about 0ºC as well, though they can suffer some adverse effects on charge life below this.
The optical drive may be more of an issue. Many seem to have a minimum recommended operating temp a little higher than HDs - Matshita slot load opticals specify 5º C (41ºF) which is obviously very close to your room temperature, though they will warm up reasonably quickly when the computer is actually turned on.
LED screens seem to bottom out well under freezing point, so should not be a serious issue.
I'm sure there must be some simple solutions in the form of heated thermal pads and the like out there , though , for situations like yours. Heck, you can even buy electric blankets for cats these days! You'd only really need to use such a thing for a few minutes before starting up, given the amount of warmth that the computer will soon generate for itself, I would think.
Cheers
Rod