Which would be worse, getting ripped off or getting negative feedback.

If you get negative feedback you can leave a response to it. Most people aren't going to be concerned over a single negative in your profile especially if you leave an explanation. Its only when there seems to be a pattern that most people get concerned.

Plus, you should consider that if you send him money and he never ships, you should leave him a negative and then he may retaliate and you are out the money and have a negative.

Perhaps there is a legitimate explanation here, perhaps you should also email the Seller about his previous history.