The beginning of the end

As you may (or may not know) from a recent post I am at the beginning of the end of a 3-year friendship with a friend.

Today we went to breakfast with a bunch of other friends, but he and I had the chance to spend about 15 minutes walking together.

During the conversation he said, "Oh you wouldn't believe the things that are going on, I've been a mean bitch to everyone."

At which point I turned to him, and I said, "I know, you've been a mean bitch to everyone. He looked at me and I said it again, "Yes you've been a mean bitch to EVERYONE.

I then proceeded to tell him ALL that I knew about his current situation and how I felt about it, and what I knew and not from him (basically everything that's going on).

I'm sorry to say it, but I no longer feel as though I have anything left to learn or teach from him.

So I've decided that I am going to limit the amount of time that I spend with this person, but not "eliminate" him from my life. Does that make sense? My boyfriend thinks that I'm secretly in love with this person and that's why I can't "let go" of the friendship. It's not that in the least, I've never had those types of feeling for this friend. Hell, I only just discovered those feelings recently with my boyfriend.....

My boyfriend thinks I should just play elimination and not talk/call/email/visit with this person. This person who lives across the street from my house, this person who is room-mates with a co-worker that I'm close with.

I think that this person deserves to know why I no longer want to be friends with him, and I guess I had better act quickly, any suggestions on how to eliminate a close friend?