A strong winter storm system will bring severe storms to much of the Gulf states while a potent snowstorm will exist to the north from Oklahoma to Michigan. Here's a view of the 500mb map valid for 00z 2-1-08 (Thursday evening).
Decent moisture return will return to the immediate gulf states. Strong vertical wind shear will allow the possibility of severe storms when coupled with marginal instability. High winds will accompany snow north of the surface low.