Mountain biking festivals and demo events are a BLAST! Besides getting to ride a bunch of expensive bikes there are often other activities along with food and beer. Very social.
Sedona MTB Festival March 4 – 6, Sedona, AZ. This looks like a great festival. However, budget lodging and camping in the area is limited so bring money. The 3 day pass for $100 is a good deal. Event camping for $125 / adult for two days is not my idea of budget. Sedona is very nice but later in March has better weather and the other festivals are great also. Shuttles.