Taylor scored two quick-fire goals in last night's FA Cup replay at the Wessex Stadium to set up a second round tie against Chester City.
"It would have been disastrous if we had gone out," said Megson afterwards.
"We know there would have been a big reaction. Now we have won it will just be a few lines in the papers.
"If we had lost it would have been a four-page pull-out. But that is life at Nottingham Forest.
"Taylor took the goals well. I don't mean to be disrespectful to Weymouth but we would have beaten them in the first leg if he had played."