I found out about the cancellation of the series on an early February morning of 2005. I just relocated to Orlando, FL to start college. It really didn't come as a huge surprise to me. The fourth season was exceptionally good, but given all the ups and (mostly) downs the series had gone through, I wasn't too sad to see it go.
Sure, it meant no new Star Trek on a weekly basis - something I had NEVER experienced before, but during this time, LOST was smack in the middle of its spectacular and extremely addictive first season on ABC, so my attention was really directed there.
I knew Star Trek would make a huge come back, whether it be a new TV series or feature film, so I wasn't exactly scared of never seeing any NEW Trek again.
With Enterprise, my least favorite of the franchise, it still had its moments. When it was gearing up to premiere, I was so excited. In fact, I was thinking this was going to be the NEW Next Generation. In other words, I thought, if successful, there would be a slew of further Star Trek spin-offs that would take place in this era which could have eventually taken us to the roots of what would eventually become TOS.
In some respects, I do miss it, though. Around this time two years ago, I remember thinking, "Man, if ENTERPRISE had continued into seven seasons, it would be ending around this time."