Well - there are some things to see, although certainly the most spectacular place will be at the northern end of the range you mentioned, namely Mono Lake. In early February there is almost certainly a lot of snow, which will allow for some great shots of the lake and the area around. These have been taken there end of January:Crystal LakeMono SkiesGhost Ship
If temperatures of down to zero degrees Fahrenheit during the night and still way below freezing during the day are alright for you, go for it and spend at least one or two days up there. Solitude and great photo opportunities are almost guaranteed! But make sure to bring snow shoes or at least a pair of (more or less) waterproof hiking boots, because you canīt expect any of the footpaths there to be cleared of the snow.
Then, there is a number of hot springs in the area. One of them is accessible via the Owens River Road. This road forms a loop, starting and ending at the 395, on the eastern side of the highway. Take the southern junction (between the Convict Lake Road and the 203, which both are on the opposite western side of the 395) and go east for maybe 1.5 miles or so.
Finally, all the way between Lone Pine and Lee Vining there are many roads towards the Sierra, and why not checking out a number of them and simply see how far you can get there? Iīm not too familiar with the Eastern Sierra, but I would expect you find lots of wonderful spots there. When coming through Lone Pine, you can start with the Alabama Hills, which are not far away from the town.