I don't like the sounds of that. To me, it sounds like a woman that got wind you were finally seriously dating and because she just has to know you are on the back burner, she tries to get you on the hook again, like her own personal fish.
It's obvious from your post you would like to try again, but I think you should really think hard about this. Have both of you changed or is she still the same? As she strings you along, what makes you think that this time it will be different?
I would make no more moves towards her. I would continue on with my life as though she never said anything, as she suggested. And if she approaches you again, make her work for it. Don't come rushing back at her with open arms. She'll find you more attractive if you weren't so easy for her. By the way, are you opening dating multiple people or are you in an exclusive relationship with this new woman? If you weren't dating other people, perhaps you should explain your dilemma to the OW and give her the opportunity to run away. If you're still willing, after all this time to get involved with XW again, you aren't ready for anything more than casual dating with anyone.
Don't you get the feeling that you are just a fallback plan? A "just in case"? A second, third or fourth choice? I would need to be first choice. I wouldn't be able to accept your W offer because she made it sound like you were almost finally worthy to be with her. The hell with that....you were always worthy and she might not be the one to deserve you (personally without knowing anything else about your sitch I think that is so).
Me
In the end, it's not the years in your life that count. It's the life in your years. Abraham Lincoln
It is hard to fail, but it is worse never to have tried to succeed. Theodore Roosevelt
