Mike, the mattes on most of the pro framed paintings/photos we have are about 10-15% (ie 20-30% in total) of the longer side of the image. This seems to be about the right balance, but there are some up to 50%.
I have one charcoal drawing with black matte and frame and I don't think it would work if the image was colour. To my taste black overpowers your image. Have you considered multiple mattes? We have one painting with tripple mattes in slightly different colours (matched to the image) and textures and that works well.
You might not like it but something like a gold frame, outer matte in one of the darker blues, middle matte in the yellow/cream/ochre around the figure and a narrow white around the image.
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