I agree with Lady, if you really want something for your boyfriend to ride, I think it would be worth your while to save up your money, and buy something thats already at least 3, and can be started if you are interested in doing the training yourself, or something maybe 4 or 5 thats already got some miles on him/her, that you know would work with your husband. There are so many variables in breeding, and just because you cross the two does not mean that you'll be guaranteed a horse that would be big enough for your husband, or that the horse would be good at endurance, or that the horse will be born healthy with good conformation. Breeding is not all bad, and you may get a totally awesome foal, but if the only reason you are thinking of breeding is to have a horse that your husband can ride, I think buying is a much better choice.
The stallion has decent conformation, but nothing screams out "awesome should be bred", and not knowing what your mare looks like, I can't really say whether or not it would be worth it to breed her to him. If you aren't ever planning on showing, or breeding him to anything else, then I'd just cut him, and let him be a happy gelding. Just one more thing to keep in mind when breeding, just because you may think that its a great cross, and love whatever the foal is, doesn't mean that anyone else will, and that he/she would be useful for anyone else, and as much as I know people love to say that they'll be keeping the baby forever, life happens, and sometimes things out of our control happen, and we need to downsize our animals. So keep that in mind when you are thinking about breeding. He's a very nice looking horse, and I hope that you continue to get along with him, and like him.