I wanted to post from the reversed side of the table.
I have a couple of very good male friends who are single. I've known them for about 8 years, and in that time, they have both expressed their interest in taking the friendship to another level.
One thing I hate about having male friends is sooner or later you have to clarify what your friendships' boundaries are.
I wish we didn't have to, I like them just fine as friends and would never want to entertain anything more with them. It makes me feel uncomfortable that they have admitted that they want more from me than my friendship, and it inevitably goes through a period of awkwardness. Luckily they've been able to get past it and have remained very good platonic friends. They even hang out with my boyfriend :)
This probably isn't helping your situation, but sometimes a relationship is the best way to ruin a good friendship. It may take you some time (and maybe you need to not see him much for a while?) to readjust your thinking towards him.
He's been upfront about not wanting a relationship saying he's a "confirmed bachelor". He obviously doesn't want to or have problems with commitment, so it's probably safe to assume that if you guys did venture into a relationship he'll hurt you.
And like others have said, don't think this has anything to do with what you think you lack. You don't, and you're definitely good enough - for someone who deserves you!

