Taken from CNN:
"I will always treasure the four years that I have spent with President Bush and with the wonderful men and women of the Department of State," Powell told reporters. "I think we've accomplished a great deal."
Bush accepted the resignation Friday, Powell said, adding, "It has always been my intention that I would serve one term."
Not quite as disgruntled as you made him out to be - or maybe he was just being polite?