It's hard to know, for sure, whether he's using the past friendship explanation as an excuse (to let you down easy), for not getting involved with you, or he actually feels it's a risk. However, in a case such as this, you really have to take him at his word. You can obsess until the cows come home, but if this cow wants to stay out to pasture, you're going to have to let it be. You can't force him to care more than he does, and even if you could, you wouldn't want a relationship based on that. As well, you want him to want you for all the things you have to offer, and not out of some misplaced obligation. You did a brave thing by telling him how you feel, but he has responded and, as far as I'm concerned, the only way that will change is if he tells you it has. Please don't see this as rejection. You have your own ideas on what you want in a guy to have a romantic relationship, and so does he. And there can be a number of other reasons that have nothing to do with you. It's best to be realistic, and limit your time with him. It's painful no matter how you play it, but you should open yourself up to other possibilities. Once he sees you doing that, I think you'll know how he feels about you if it actually was the "risk factor".
