Good decision. I would do the same!
My Ex did that a lot, but she only wanted to be with me for the night. Judging by the time of night she would call, I suspected I was near the bottom of the list, and it was closing time at the bar she frequented. I said no. If it were for a long term relationship, I'd still say no.
first choice not second best
I would question the motive
I would be tempted to say, "What took you so long?" "I'm happy it finally dawned on you what you missed out on."
My old self will take the man back (I've done this in the past). But the new me, absolutely not. Like someone mentioned before, I would question their motive for coming back.