Thank you for the compliment Vader.

I am so sorry for the late reply. My campus has been having difficulty with the wireless as of late.

It may be a bit before it's stable again.
I think you're at a good position to have found someone who you really want to have a special relationship with.

I don't think there's anything wrong per se with a little fooling around...it could perhaps be a bit soon, but you seem really smitten with this guy, and based on what you've said, he seems to respect your wishes.
Just because you told him you're ready doesn't necessarily obligate you to intimacy with him. If you don't want to and he truly respects your desire to wait, he should understand if you were to explain that you aren't quite ready, despite the text. It might require a little explanation, sure, but I think if you emphasize that you really want this to mean something and that he matters to you, I think he'll understand.
I do think though (unless you're both understanding that it's an open relationship, in which case please disregard) it might be worth dumping the other guy. I think ultimately that if you want this to be different, it needs be shared with him and him alone. You already said that you weren't physically attracted to the other guy. While that doesn't account for everything by any means, physical attraction is an important part of a relationship (lol It is, honestly, how must people choose a date anyway

).
On the other hand, don't pick on looks alone by any means. Personality is (of course) the most important aspect of long term viability. It doesn't have to strictly mean picking one trait or the other.
Based a lot on your last and first line, I do think a lot of it isn't so much a pure desire for sex as it is acceptance and love.

I think at the end of the day, that's what everyone wants. I think your problem is associating intimacy with that, which isn't always the case, but I think you're making an excellent decision in wanting to wait with this guy.

I sincerely hope things work out well for the both of you, and I hope you will keep us posted.
Hopefully, with any luck, the physical plant will have my wireless fixed soon, and I won't be gone for so long on the reply. I can check back on my iPod, but I simply can't feasibly type all I need to say on that thing. My texting skills are lacking.
Take care, and I hope to hear from you soon.