We went the First full week of Feb 2012. We were there from the Thurs before Superbowl until the Sat after. It was AWESOME!
Weather was rainy, but warm enough to wear skirts (shorts) our whole trip. We wore sweaters in the mornings and evenings, but otherwise were in just tshirts and shorts/skirts.
Crowds were ok. They weren't as good as when we went in Jan 2010, but waits averaged 25 mins. We waited 45 mins for TSMM which ended up being about an hour and 5 mins, but it wasn't nearly as bad as other times of the year. The only other long wait that sticks out in my mind was for Test Track. We got FP for it, but we wanted to ride it again and again... I think it was posted for a 40 min wait and it was over 1:20.
NOt bad compared to other times of year, but still... There were other headliners that were surprisingly short waits - EE, Splash Mountain, Haunted Mansion, Soarin', Space tours, Tomorrowland Speedway, Tower of Terror... all less than 15ish mins. The others were just walk-ons - Mission Space, Laugh Floor, Philharmagic, Small World, Captain Eo, Muppets 3D, Backlot Tour... But I just imagine those always being walk ons because they usually are when we've gone (Jan and Feb.)
Also, be aware that rides WILL be down for scheduled maintenance during that time of year. We were surprised that Splash Mountain was open, and we took full advantage of it - we went 3 times, and only one time did we wait in line, and it was only about 20 mins.
I was surprised that the line for Dole Whips was longer than many of the ride lines!
Oh, also, Superbowl Sunday was a unique experience... the Superbowl was actually hosted in our town when we went to WDW (it was my rebel escape - I had been working on the Superbowl most of the year leading up to it!), but it was great to see groups of people sprinkled throughout the parks and resorts, all huddled around smartphones, ipads and tablets, following the game. It was heartwarming to hear them praising my city for what an awesome host we were, and even
cooler to hear people talking about the specific projects
I had worked on. (Superbowl Village) On Monday, I expected something crazy because of the whole "I just won the Superbowl, Now I'm going to WDW!" parade, but we just didn't hit MK that day... we went to another park and didn't even know anything special was going on.
All in all, a great trip, and we'd do it again in a heartbeat!
If you'd like me to post pics of crowds, I'd be happy do to that tonight when I'm at home. I don't have them here with me at work. Just let me know