>>1 Run. A week and he's acting like that? That doesn't sound normal and potentially dangerous. I don't mean to scare you but I get a little paranoid when I hear about stuff like this. It doesn't even matter that it's near Vaneltines day, the longer you drag this on the harder it'll be to break up. It's obvious that he's basically threatening you not to break up with him which isn't fair. Don't let him make you feel guilty! Also, never date anyone out of pity.
I like your break up idea, but I honestly think you should tell him that he doesn't match your sexual orientation and there's nothing he can do. You could also say that you're not ready for a relationship, that school/work/life is too much and there's no way that you can handle a romantic relationship with anyone and that it's not his fault.
Don't let him make you feel guilty, also, don't overly apologize. And he may get crafty in how he wants to stay your boyfriend so just be prepared.
I hope this helps!