yes, it will just simply be lower... Unless there is a secret formula I don't know about, you won't really be able to calculate what your gravity should be after such a short period of time. Viability of the yeast, cell count, pitching temps, total fermentable sugars... they could all be all over the road (especially for a first batch).
You never know, you're airlock just might not be sealed and you could be bubbling away (disclaimer: bubbles are not a reliable indicator of fermentation)
I would suggest not touching it. There's a reason Relax, Don't Worry, Have a Homebrew is the first commandment of brewing.
Let it go for 7 to ten days and then grab a reading if you really want to. At that point you should be a lot lower than 1042 and shoudl be getting pretty close to where it will ultimately finish out.
In the mean time... get batch number 2 going!
Oh... and do yourself a huge favor... try to ignore PaultheNurse as much as possible. There is a great nickname here on HBT... dooshnozzle... I'm not saying Paul IS one... actually... yeah.. that's what I'm saying.
And yeah, I hit that D&D all the time.