As far as the text goes, I think the bottom one is my favorite.

I like the idea of fading the map into parchment/etc at the edges. I'm more partial to sepias and tans myself, but grey might work too as long as it's not too dark. For the cartouche, blue colors seem like they'd work well; you could do some purplish-red shadows on the folds of cloth to give it more color and depth, and that might not overwhelm the map as much as only reds would...

Oh, and the map is looking awesome.