And eBay will remove it - as long as you ask.

Ebay may remove it if the buyer agreed to the cancellation but if they didn't then it will certainly stay. The buyer did not ask for a cancellation, they thought the delivery cost was too high but they only had two choices, pay or not pay. If they paid in full then they may leave feedback you wouldn't want but you would still make some money. If they didn't pay then you could have gone through the unpaid item dispute process and you would have lost no money and they could not have left feedback.