I'm hearing reports of no lines at WDW and Universal Studios and deeply discounted hotel rooms. We are planning to go there end of February / beginning of March and we weren't planning on going to WDW due to the typical Spring Break crowd but we're reconsidering now.

February and March are good times to go. You will always get more people in attendance during breaks in school... and those vary a bit in the school districts around the Orlando area for spring break... (which will be roughly end of March/early to mid April).
Don't know if you have been before or not, but another good idea to go during the school week if possible, and anytime you go, take advantage of the fastpass that allows you to bypass much of the lines. Some rides you will pretty much be able to just walk onto, or have a very limited wait.