He said: For all I know you may be the best person in the world for me, I'm just not ready right now... I mean will he ever be ready for a relationship?
Who knows? But even if he is speaking the truth, there is no reason why you should waste some more time waiting on him. If he truly changes and wants you back, at a later date that's your decision to make in the future when he brings what you want to a relationship. Right now though I think he's using a stall tactic so he can circumvent your emotional doubt about him, and he can keep getting sex from you. Leave him and run fast girl!
Just another tactic to string you along and keep having sex with you. How are we supposed to know, with any degree of certainty, whether he will ever be ready for a relationship? Stop looking to others for answers, you know what your intuition says if you have to ask whether he loves/likes you beyond sex - you have your answer. Trust your intuition, value yourself. If you are ok with accepting his crumbs, then continue on. If you want to have a full fledged relationship with a future, you need to look elsewhere for the commitment.
I've generally found people are willing to settle into a relationship when they meet the right person, not when the timing is right. When people say they aren't ready for a relationship it usually just means they aren't ready for a relationship with you. I hope that doesn't sound harsh, I tried to think of a different way to phrase it but i've got nothin'.
So this is not about him OP, it's about you and what you want. I have no idea on your age or what commitments you want out of life or right now. if you were 18 or even 22 I'd say you have plenty of time, if you're reaching or in your 30's then you may be wanting to settle down. This line of "I'm just not ready right now" does sound like a put off. Maybe he's not ready for the larger commitment or doesn't want it at all. Some guys and or girls do have real commitment issues, so you'll need to figure out if that is the case here and do what you want. Again always remember it's your life, your decisions that determine your destiny, not the other way around. Never stay in a relationship "hoping" he'll come to his senses or decide the time has finally come or years can pass by that way. Good luck