Let's see, March is when the snow pack is at or nearly at 100% of it's maximum depth for the season. It is also typically the snowiest or second snowiest month of the season. So the conditions will probably be crappy...
All joking aside, Telluride is a great looking location. Haven't been there myself, but where it is nestled in the San Juans is just stunning terrain. It's a better mountain than Durango too. That said, if you are not looking for steep terrain, Purgatory (Durango Mountain) would be just fine and you'll have cheaper lodging options in the town of Durango.
Other Southern Mountains would be Wolf Creek (place gets puked on, so high powder quotant there), Crested Butte, and Aspen.