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Here you go! It's almost 50% participation when looked at this way:

Total accounts: 291340
Inactive Accounts: 278390
Accounts with a Proxy: 260
Accounts with a witness vote: 4084
Accounts with no witness vote: 8466

Great news!

That's a good way to look at it. You got me curious... I'm running it again with a cut off of > 100 posts, just to see how the numbers might change. I think 100 posts is quite a bit, but I guess that would be a fully active account (or at least one that was active at some point in the last year or so).