I've wrestled with this in the past (with both aspect ratios than you mention), so I feel your pain.
I use bordering to fill in the destination ratio, and have standardized generally on the 2:3 ratio for prints because it allows the most different scales, i.e., 4x6", 8x12", 10x15", 12x18", 16x24" (my personal favorite for my own work), and even 20x30" (when I've got the pixels/clarity to deliver it).
For me, this scheme is best for portrait-rather-than-landscape orientations, and requires "more border" to the bottom dimension, which usefully "lifts" the composition in the frame.
For landscape orientations, I generally bordered to use the 4x5" / 8x10" / 16x20" ratio when I had your aspect ratio, and alternate now (with the dSLR ratio) between the 16x20"s and 16x24"s, depending on the composition.
However, I don't know if this helps you or not. Because I almost never crop at all, and would rather fill out than crop in. And I have to work my images pretty hard to pull off those 16x24"s. However, with decent megapixels, you shouldn't have much trouble aiming for the 10x15"s or 12x18"s, if you like that ratio fundamentally and the flexibility of other scales along with it.
One other aspect of all this is actual framing. 4x5 ratio frames are considerably easier (for you or your customers) to buy off the shelf. However, mPix does offer framing for MY favorite ratio (at all my large scales), which has, frankly, thrilled me. But if "your people" will be likely to buy prints and frame themselves, I think 4x5 ratios are best and easiest. If I'm doing model portfolio work (at no intended profit for myself, but in return for her contribution for my own art), I make sure to do those for 8x10" frames.
So just derive from my experience as you please. I am certainly more of a composition-obsessed control freak than most people. You might happily enjoy more flexibility. : )
Canons 400D and 10D. 50mm f/1.4, 24mm f/2.8, and 100mm Macro.
Photoshop CS3. Aperture 2.1. And coffee. *Lots* of coffee.
http://www.justThorne.com/