The Tribe finished the season with a 5–6 overall record (4–4 in the A-10). William & Mary lost three of their first four games, the lone win being a non-conference victory over VMI. The most impressive win of the season came on November 11, when they defeated Villanova 48–41 in their home stadium.
The Tribe finished the season with a 6–5 overall record (5–4 in the A-10). After losing the season's first two games, William & Mary reeled off five straight victories, with the most impressive being a 30–13 win over #15-ranked Northeastern. They would stumble toward the end of the season, however, as they dropped three of their last four, including the I-64 Bowl against rival Richmond.
William & Mary only played 10 games compared to the regular 11-game season due to a cancellation of the Maine contest, which had been scheduled for September 27. The presidents of the Atlantic 10 Football Conference awarded the University of Maine a victory and the College of William & Mary a no-contest as a result of the cancellation of their game. The decision of the presidents, based upon the recommendation of the league's directors of athletics, was unprecedented in Atlantic 10 Football Conference history. Factored into the decision were Maine's efforts to play the game and the understanding of the unique circumstances facing William & Mary in the aftermath of Hurricane Isabel. However, the NCAA does not recognize the win in their official records.
The 2006 season was the final year of William & Mary's football membership in the A-10 Conference, as the newly formed Colonial Athletic Association football conference formed and was set to begin competition in 2007.
The 2007 season was the CAA's first year as a football conference. The teams in the newly formed CAA football conference came largely from the Atlantic 10 Conference, as well as a mix of other conferences.
The 2008 season was also the final one for redshirt senior cornerback and punt returner Derek Cox. Cox, an All-Conference player, would later be selected in the 2009 NFL Draft by the Jacksonville Jaguars with the 9th pick in the 3rd round (73rd overall), making him the second-highest player ever drafted out of William & Mary (Darren Sharper, 60th overall pick in the 2nd round, 1997).