Yeah, I think it's pretty obvious what his intentions are. Could you give us a link to what it is? Might be a dishonest seller, if he's pulling that.
Since he hasn't accepted the paypal yet, get it back asap. He's obviously been online to relist the item, so he should've seen his emails by now.(though he may have multiples, but I doubt it, from the sounds of the situation.)
Leaving negative feedback. That'll only get you a negative in return, through no fault of your own. That's what sucks about it. eBay rarely does anything about it either, no matter how much you are in the right. I've received one ill-gotten negative feedback. I sold a game-n-watch handheld game. Listed it as great condition, and that it runs, with new batteries. That's pretty much all I said. After the guy received it, he left me negative feedback, saying I "made false claims" about what it had. No serial number and whatnot. I never made claims it did in the first place. I complained to ebay, asking them to remove it, (the guy ended up cancelling his ebay account) but never heard anything back. So if you leave a negative on his, expect one on your own, and since you're new to it, it can be detrimental to how other sellers respond to any of your bids in the future. Unfortunately, that's how ebay rolls with it.

Freakin' buttwipes.