Henry, your explanation is perfect. Why have I never seen that before?
Ed, your explanation is also correct and avoids the flaw in my parallel incorrect reasoning:
Born the day after February 28. In a non leap year 365 days later will be "the day after February 28", i.e., Mar 1.
The problem with my "solution" is that using February 28 as the measurement basis requires accounting for the leap day, while Ed's measurement based on March 1 does not.
According to the source of this puzzle, most people make the same mistake Johnnie and I did.
Nice job, Henry and Ed