In many cases being consistently 40% wrong is just as impressive and useful as 60% right. Almost any deviation from 50% would be surprising and indicative of something beyond guessing.
ETA: On second thought, you would have to rule out some of the easy ways to be wrong. For example: if a medium guesses "boy" 3 times out of 4 they've guaranteed a failure rate that deviates from guessing without implying any actual knowledge.
Ah, not true. I can guess "boy" 100% of the time and still be right with the same rate of dumb luck. So with your example, the outcomes are:
Guess: Boy -- Actual: Boy -- p=3/8
Guess: Boy -- Actual: Girl -- p=3/8
Guess: Girl -- Actual: Boy -- p=1/8
Guess: Girl -- Actual: Girl -- p=1/8
Total times right = 4/8 = 50%
Now, try this same logic on a die. The roll can be a 6 (p=1/6) or it can be not be a six (p=5/6). You may think that the "dumb luck" strategy would be the user choosing 6 about 1/6th of the time, and picking "other than" 6 about 5/6th of the time. If you use this strategy, you will be correct:
Guess: 6 (p=1/6) Actual: 6 (p=1/6) Total p=1/36
Guess: 6 (p=1/6) Actual:not 6 (p=5/6) Total p=5/36
Guess: not 6 (p=5/6) Actual: 6 (p=1/6) Total p=5/36
Guess: not 6 (p=5/6) Actual: not 6 (p=5/6) Total p=25/36
Total accuracy = 26/36 ~ 72%
The funny thing is that if I guess "not six" all of the time, I will be accurate 83% of the time.
Isn't math phun!
So to go back to your question... yes, a medium who consistantly gets only 40% accuracy on coin tosses is indeedy informative. If you always do the complete opposite of what they say, you now do better than luck. It's like a few of my poker buddies. Some of them lose a heck of a lot more often than they win. And boy, do I love playing poker with them. Heh.