Hodgson said: "Jimmy Bullard was outstanding, considering he has not played for 16 months. I thought I might have to take him off but I didn't have to.
"In terms of out determination and aggression, we matched Rovers. We have no reason to be ashamed of this.
"Of course, it is a blow to lose. But this is not relevant in terms of the Premier League.
"Losing on penalties always leaves a bad taste in the mouth but I thought we were good value for 0-0 after 120 minutes."