I personally would go for it. You can expect it to take a while, maybe about a month, if you can't seed your tank, but in my opinion it is definately worth it. Puffy was in a little 1/2 gallon tank for several months before I was able to find this site, get a 10 gallon tank, set it up, cycle it, and get him in, and he was fine. (though he did tail bite a good bit until I got him in there). If you can combat his tail biting, and get him interesting in things, then definately wait.
Good ways to do so would be play with him, like chase the finger. Change his decorations now and again, it'll give him something to do. Change the location of his tank occasionally, or if it's too much of a hassel, change what you put by his tank, and change swap them around. You'd be surprised to see how interested he'd get if you were to put something by his tank he's never seen before.