I remember where I was on February 18, 2001. I had come home from work a little after 4PM (local time) and saw the note my mom left for me about the race. The first thing she wrote was that Michael Waltrip won and where a few other guys ended up (after the Big One where Stewart went airborne), and that Dale Earnhardt and Ken Schrader were involved in a last lap crash. She and my dad were at my sister's house or something like that, and once they returned Mom elaborated further saying Earnhardt was taken to the local hospital.
I then recall my dad watching CNN sometime after 5 and the anchor was reporting that the Intimidator was in serious condition. After awhile one of my uncles paid Mom a visit so she was outside talking and the rest of the family (Dad, younger brother and I) was watching TV. About a minute or so after 6, Dad switched to SportsCenter, and they had the RPM2Nite anchor along with Jerry Punch (the latter looking absolutely crestfallen) reporting that Dale Earnhardt had died from his injuries.
I think my reaction was one of shock and surprise. Once my uncle left and Mom came back in, I broke the news and her first three words (after her jaw dropped) were "OMG." She's a Gordon fan but she was quite sad at hearing the news (as was pretty much every other NASCAR fan no matter what driver).
I do remember taping the memorial service from the Thursday after the crash, and getting a phone call at work on Saturday from my mom saying all the drivers were wearing Earnhardt hats.
Interestingly enough, the winner of the Truck race from Daytona ten years after the crash, was Michael Waltrip.