Apart from a five minute spell at the beginning of the game - in which time Patrick Kluivert netted the decisive goal - the boys enjoyed a strong foothold in the tie and had Newcastle pegged back in their own half for long periods. The second half was pretty much one-way traffic as the team poured forward in search of a leveller, the securing of which Simon feels would have completely swung the game.
Throw in a few very strong penalty calls, a disallowed goal and some excellent goalkeeping by Shay Given - the team could rightly feel a bit hard done by.
"The boys did superbly," sighed Simon before boarding the bus after the game. "It was the early goal in the first half that let us down, it shocked us into life and we had so many chances.
"It just didn't happen for us, we are gutted and I can't really describe how I feel, to be honest.
"Even at half-time we felt we would go on and score two or three. Every time we got the ball down we were opening them up and creating chances, but just couldn't put them away. We are all so disappointed and can't do anything about it now.
"We needed that first one to go in and the keeper pulled off a few good saves. I don't think you can ask any more of the lads though in terms of effort."
The team have now got to pick themselves up quickly for the Premiership challenges ahead, the next one coming up against Charlton at the Valley on Wednesday night.
"We've got Wednesday now and we've got to try and achieve something through the league. If we carry on performing like that we are not going to lose many games, that's for sure. It is hard to think positively tonight or take some heart from the performance because we are all so down, but I think it will come through tomorrow."
Simon Davies could hardly believe the team left St James Park with no reward following the FA Cup defeat to Newcastle on Sunday.