Milo Ventimiglia and Hayden Panettiere Engaged?

Recent reports say Milo Ventimiglia bought a ring for Hayden Panettiere, which implies they are getting engaged, until you learn what the ring looks like. In Touch reports:

The jewelers that provided the ring were Tiffany & Co. and the ring is reportedly an 18-karat yellow-gold ring, worth US $1,950.

The ring, called Somerset Heart, features a woven band and a heart, and according to the insider, is inscribed with writing saying Sweet like Hayden.

Wow! I had to walk around for a few minutes with my hands behind my head to calm down. I really thought my chance to win Hayden’s heart had just slipped through my fingers like a greased turd. It’s only a friendship ring, and Milo has a crooked smile, and three nipples, so I’m still in the running. I have three nipples, an extra toe, and two penises.