Yes, you will be able to run the Royal Gorge the beginning of March. Could probably run it now, but would definitely want to put on after a mild night. Hard to say what the flows are going to be. Currently the BOR is releasing water from Twin Lakes and the Gorge is running around 600 cfs. Last time water was released over the winter they cut back the flows in April, about a month before runoff starts. However, you can run the Gorge at native (base) flow.
Usually the AHRA/BOR update this page: WaterFlow Announcements
, when changing water releases.
I doubt it will be a hypothermia run if you dress properly and stay in your boat. People have been running Numbers and Pine Creek all winter....