"By the way, based on the other coaches that were there, I'd say the only realistic shot is if his top choices pass on him"

I've been sending SV. Will he accept a HV or CV now? Should I forget about this one?

You're still a backup for him.  It'll take more SV, or you can wait for him to drop.

He is still capable of being pulled down, but is not yet.  If it's taking longer than usual that may be because someone else is also trying to pull him down.  

This is the response when you are a backup option.  Backup options can be signed in 2 ways.

1.  They drop down on their own.  This happens over time if no one in the higher division or higher prestige signs them.  The only problem with this approach is that you are waiting and the player will likely drop down to several players at the same time when he decides to move down.

2.  You pull down the player.  To do this, you would use the Scouting Visit.  It normally takes somewhere between 10-15 visits to get a player who has told you that you are a backup option to be pulled down .. but it can take as many as 25 visits.  Since Scouting Visits are based on distance, it is better to pull down local players (a visit can be as cheep as $150 per visit, where long distance guys can be $700 per scouting visit.

You should search the forums for discussions of Pull Downs and Drop Downs.