I'm on the verge of booking trip that includes a few days in February in Machu Pichu, and am concerned about rainfall levels that month. If anyone has traveled there in February, I would love to hear your insights.

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February is just about the worst month in terms of rainfall for the region. The Inca Trail will be closed as will the mountains at Machu Picchu. Land slides and flooding are not uncommon and parts of the train ride will be replaced with bus service. Paths will be slippery, views maybe obscured. We have spent a lot of time in the area over many years and have visited at most times of the year. In these days of changing climate, you may be lucky and see some blues skies but if your prime objective is to see MP then I would choose a different time of year.
If you are open to other options in Peru then the coast has great weather in Feb - maybe Trujillo and Chiclayo in the north or Arequipa and the. southern coastal. Lima is nice at that time of year - some detail and photos of our time in Peru on our blog @ https://accidentalnomads.com/category/peru/

What crellston said. I went end of January 2009 and it was okay. Same time 2010, floods washed out the train to Machu Picchu and they had to helicopter out stranded tourists. The heavy rains continued into March that year.

The Andes rainfall is related to La Niņa.(opposite to the coast of Peru).This year is also forecast to be La Niņa, so coastal Peru is a better bet.