I'm honestly not sure what I'm going to do about it -- he wants quite drastic revision (basically cutting lots of stuff that he feels is over-written). It's sim subbed at a bunch of places, and I'm sort of hoping that one of the others will want it without revision. I think I'll probably wait a few weeks at least, see what the others say. If one of them takes it, good. If not, I can try his revision then.
Okay, I guess I do know what I'm going to do about it. The only real reason to rush a revision now is to get a literary publication credit, any credit, to put on the CV. And I don't *think* I'm in quite that desperate straits, not to require chopping up a story I love just as it is.
Writing is hard sometimes.