I spent almost three months in the Abacos on our trip south and truly enjoyed it. Feb is a little cool when the fronts roll through, but we were still in shorts with maybe a jacket in the evening. I would recommend a wet suit for snorkeling unless you are very hardy. A shortie is fine.
We staged out of the Conch Inn Marina which is the base for the Moorings fleet. It is a nice facility and I kept a slip for the time we were there, so we always had a place to go back to when the weather turned bad.
Just a personal observation about Nippers. This is a great place if you are into Calypso music and the beach bar scene. For someone not interested in being around heavy drinking in the afternoon or those traveling with children, not so great. The famous Pig Roast is just a buffet with pork that was roasted somewhere, but definitely not the beach. The setting is fantastic.