Well I'm now inclining to Edward III as a possible contender. According to that well-known source of historical accuracy the Guardian(one of its free leaflets on the Kings and Queens of England): Edward III was notoriously fond of his wife Phillippa, but went off the rails a bit after his death. Including, allegedly, a gleesome threesome with Alice Perrers and her daughter. And I see this line in the ballad in question:

Tw]o Ladies now lately have decked my bed:

Suggestive, possibly? Mind you, he only seems to have had the one actual wife.