With the circumstances you described after getting out of your stand with the dogs and all, I don't think you made a mistake, and you pulled out after you realized he was still alive. Don't beat yourself up too bad over this. Easier said than done I realize, but you have given a great effort in recovering the beast. By the looks of the blood on the leaf, he is mortally wounded. That's a lot of blood for that far into the track. I've had less blood at times when the deer only went 80 yards. Liver, one lung maybe? Don't know for sure, but deer are tough. As others have pointed out, waiting hours may not help at times. Last year I shot a doe at 18 yards. I saw the arrow enter about 3" behind the tuft of hair at the armpit mid-chest, complete pass through on a slightly quartering away shot, blood drenched arrow. Sat for a half hour, then quietly snuck out of the woods and ate supper, then came back 3 hours later. Had a wildly great blood trail that was easy to follow, and increased in volume after about 30 yards. About 100 yards later I was getting puzzled to where she was, should have dropped by then. After another 100 yards, the blood started trickling, then dried up to a couple of pin head spots 20-30 yards apart. Never did recover her, even after searching until 3am that night, and all day the next day. It happens.

I would venture to say he's down though. Often deer will dive into cover you can't even see through, hunker down and expire. Dig into these areas. Keep us posted. Good luck.