Though I might rather characterize turbulence as exhilarating rather than terrifying, a severe downdraft on a recent flight in the northeast US on an ATR ("Terror") 72 had us weightless for about 2 or 3 seconds.
The gasps from the cabin were probably more a result of the unusual sensations from the rapid re-arrangement of internal organs rather than of terror, since most gave out a relieved, "Wow!" laugh immediately afterwards.
On the same flight a few weeks later a fellow up the aisle afforded me the first glimpse in all my years of flying of the use of airsickness bags...
[This message has been edited by FQTV (edited 06-24-2000).]