Should I just give up?

My ex, who I am still madly in love with, told me yesterday that he still loves me and wants to be with me, but he can't right now, because something is holding him back. He is in a relationship of 4 months and said he doesn't feel for her like he feels for me, but is happy with her. I told him that wasn't fair to say, and asked if he had to choose, he said he'd always choose me first. He said he can't decide if its being nervous about our relationship being the same as before, or his new girlfriend that's holding him back. Despite this, he keeps talking about 'if we get back together' and 'I'd never let it be like it was before'. I also want our relationship to work and we already talked about what we would need to work on. I understand that it probably wouldn't be wise to go back into a relationship straight away, but for me, I couldn't be with someone whilst I still felt the way he says he's feeling. Should I issue him with an ultimatum? Or should I just give up? I dont think I could because I'm so in love with him. I haven't seen him yet, just spoken on the phone, what should I say or do when I see him? In my head, he's worth waiting for and he says he doesn't want me to move on because he see's his future with me. But I guess I need someone who can look at my situation with a straight head. Any suggestions? For anyone who asks, I broke up with him, as I was having some personal struggles.

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