I'm fairly certain that was debunked. See RJ's comments from that camp thing where he was out of shape. If that were true, he'd already have been locked up. Everything about RJ's opting out screams of a last-minute decision, and probably not a well thought out one.
The proper question is: If the Spurs are so sure RJ is their guy, why isn't he on the team?
The Spurs can't put a gun to a free agent's head and make him sign with the team. They certainly don't have overwhelming money to throw at free agents, so the fact that they've failed to sign someone is NOT evidence that they haven't been trying to sign someone.
Every day that RJ's phone doesn't ring, his price goes down. The Spurs would have been stupid to "sever ties" with him. It's pretty clear that they've been actively trying to replace him, they just haven't had much success and he's going to be their fall-back position until he's gone. If nothing else it's probably wise to keep relations warm so they can potentially work a sign and trade if he decides to go somewhere else.
See "fall-back" position above. I certainly don't think RC would be doing the process any favors if he said that the Spurs were waiting for RJ's value to drop. No matter what the truth is, do you think he'd have answered that question any differently?
If the Spurs really really want to sign RJ and he's not on the team, it means he's looking elsewhere so it would be smart for the Spurs to do the same. If RJ really really wants to be a Spur and he's not on the team, it means the Spurs are looking for other options or don't value him as highly as you think.
Bottom line: The Spurs know exactly how much salary is available. RJ knows exactly how much salary is available. The fact that he's not signed means that RJ is looking for more money somewhere or that the Spurs don't think he's a priority.