I just wrote back to him today, and thought my note to him might be useful to other writers who have recently started the submission process.
"Print publishing is in turmoil right now. Leisure Books has effectively gone out of the print business, and B&N and Borders are having extreme financial difficulties. Mass market sales are suffering during the recession and horror is mass market. It's also summer. So, in all likelihood nothing is happening and nothing will be happening soon. I think it's almost impossible to place a first horror novel right now in print.
I can refer you to one of the other agents in house (go to our website) after Labor Day, but I do think epub is probably the way to go for horror right now.
Just because you are new is no reason for you to fail to follow publishing news. You should be reading the Writer's Digest blogs, Publisher's Weekly and Publisher's Marketplace, as well as Galleycat."