Not surprisingly, Lake Powell is not in much better shape. I was out there last year, and it was very far down. A park ranger (my uncle) told me they are under constant pressure to release more water for Lake Mead and for the people downstream, but they just don't have the water to release. The dams at Mead and Powell generate a significant amount of the southwest's electricity, and the river is the main source of water for a lot of people.

It will be interesting to see how this years snow pack in the Colorado river basin will affect both lake levels. I suspect it may exceed the 2005 peak.

http://www.arachnoid.com/NaturalResources/index.html

http://www.usbr.gov/lc/region/g4000/hourly/mead-elv.html

I noted in yesterday's thread that snowpack is thankfully way up across the west this winter. In some watersheds, over 200% of normal. It's giving quite a breather for all reservoir filling.
For projected streamflow and Feb 1 snowpack:

ftp://ftp.wcc.nrcs.usda.gov/support/water/westwide/snowpack/wy2008/snow0...
ftp://ftp.wcc.nrcs.usda.gov/support/water/westwide/streamflow/wy2008/str...

Snow course data for individual watersheds here:

http://www.wcc.nrcs.usda.gov/snowcourse/snow_rpt.html