We've gone before during the Presidents week. It was crowded but not unmanageable. I think that it is supposed to be the busiest week in Feb. No where near as bad as the Spring Break or holiday crowds. We would go again. Personally, I prefer it to October but I like the milder weather. To me, touring in 75 degree weather is the best. If you plan well, knowing what to ride when then, I think, you should be fine.
Weather-wise, even though it was 75, it feels hotter in the parks. My kids ended up wearing shorts/tees and bringing a sweatshirt for early mornings. I've heard others say that the weather is sketchy in Feb but it has always been beautiful for us.