I generally agree with your reading, but here are a few comments. The lack of cups in the spread seems to indicate that this guy is thinking on a completely intellectual level, not an emotional one. Perhaps at this time he's just simply not interested in a relationship? The strong presence of pentacles could represent that he's more interested right now in furthering his career over his personal satisfaction. The Strength card to me indicates that he doesn't intend to change his mind. Yes, I think it's time for you to move on.
A similiar situation happened to me 5 years ago. I told a guy I was interested in him. He wasn't ready to reciprocate. Three years later he called me but I was in a relationship. About a month ago I dropped him an email to see how he is doing. Now it seems like we're both interested in pursuing a relationship.
If this guy is easily forgettable, I'd do so; if not, something may well develop in the future. I'd worry a little, though, if he really is trying to avoid you. You deserve someone who can share his emotions.