For me personally, this was the greatest long view I have ever seen in Vermont and both times I was speechless. Remember to check the road conditions before your trip. Enjoy! 
Quoted from Phil:
"I use to send folks on the Stone Dam Road because it was easier. But the colors on the Henshaw and Four Mile roads are better. Drive east out of Island Pond village about 1/2 of a mile and look for the Henshaw Road on the left. Turn left onto the Henshaw Road. The road starts out bushy then you come to a wide open area with an old farm. Drive past the farm and the camp and soon you will come to a gate. Drive through the gate and in about 3 miles look for a wooden post on the left side that says the Nulhegan Basin. Take the road across from this sign post, This is the Four Mile Road. Drive this road to the end at the Lewis Pond Road and turn left. Drive the Lewis Pond Road up to the end where this overlook is located.
For you folks that would rather use the Stone Dam Road; The Stone Dam Road is off route 105 in Bloomfield,VT. Take the Stone dam road to the end at the Eagle's Nest Road and turn left. (Warning; somewhere along the line the Stone Dam Road changes it's name to the Canal Road. So if you plan to come back the way you came, look for the Canal Road signpost and not Stone Dam Road.) Drive the Eagles Nest Road to the end at the Lewis Pond and turn right. This will take you to the overlook. When you are done I would drive back and go past the Eagle's Nest Road and in a couple of miles, look for the Four Mile Road on your right. Drive the Four Mile Road to the end at the Henshaw Road and turn left to get back to route 105 in Island Pond."