Promise ring but no relationship??? what should i think?

me and this guy have known each other for 4 years and have been talking for 7months. we do everything as if we are dating ( go out, kiss, cuddle, talk all the time, ETC.) but i am 16 and he is 20. we are going to date when i turn 17 or so but until then we are stuck where we are. he gave me a promise ring for valentines day and we are still here talking without actually dating... it kind of bugs me but i understand that he doesn't want to date until i am 17 (although it is legal where i live) but what should i think with the promise ring being presented without a relationship being in place??? help