Am I settling for my boyfriend? If I am, is that really that bad?

I've been with my boyfriend for a year and a half. In the beginning I really cared about him and the was great. I loved being with him. Now I feel like we don't have (and if we do it's not that great), we barely have time to talk (he's out of town most of the time), and I feel like we've lost that "connection" that I used to love about us. I know he still deeply cares for me and loves me. He always says that he wouldn't change a thing about me; unfortunately I don't feel the same way about him. I feel that he's not social enough and he could lose some weight (plus I want him to fix his teeth because they bug me a little bit and he knows that). I feel bad but I'm not sure if I'm just being picky or if I'm settling for a guy that maybe doesn't have everything I want...I mean, he's totally honest, hardworking, loving, caring, attentive, sweet, and my family adores him. More importantly he adores ME! I'm so lost and confused. My last relationship sucked and my bf made me feel like crap so I have no idea what I want out of a guy (other than I don't want a cheater) and I'm not sure if my current relationship has run its course. I don't want to break up with him but sometimes I think it would be better for both of us if I did. What do you guys think?