You made the right call. Now if he'd had a gut wound or arrow sticking out of his neck, something that was going to eventually be fatal or cause him a lot of issues, I'd have shot him and I'm sure you would have as well.
2013 Hoyt Spyder 30 (29", 66#)
29.5" Easton Hexx 400
100 Gr. Ulmer's Edge
2010 200 Point Club (230")
2012 Largest shed contest winner
If he's eating and scent checking does, his senses are fine and he should make it. Good luck going for him next year!