"Everything is history," he said. "As far as I'm concerned, this was the most important game of my life because that is what is happening now.
"You can't change what has happened. But after 27 years as a manager, I had a bit of a rough time. Unfortunately it was in the middle of the England situation with the highest profile."
After resigning as England manager, he took Wolves to the play-offs, but they lost.
Taylor said that the club's youth system would provide some players for next season. "We have got to give that a lot of thought," he said. "We are not a big club and it would be very silly of me to have to feel that I would have to spend millions of pounds and thereby, almost destroy our youth system."
Sir Elton John, Watford's chairman, was full of praise for Taylor. The rock star, who was in Seattle on an American tour, said: "I am so happy for the team - the staff, the fans, the Board but most of all, for Graham [Taylor]."
ENGLISH LEAGUE ROLL OF HONOUR
Champions: Man Utd
Qualified for Champions' League: Man Utd, Arsenal, Chelsea
Qualified for Uefa Cup: Tottenham H, Leeds Utd, Newcastle Utd
FA Cup winners: Man Utd
Worthington Cup winners: Tottenham H
NATIONWIDE LEAGUE FIRST DIVISION
Runners-up: Bradford C
Promoted via play-offs: Watford
Promoted via play-offs: Man City
Runners-up: Cambridge Utd
Promoted: Cardiff C
Promoted via play-offs: Scunthorpe UtdReuse content