Definitely drier, even in the comparatively "lush" area in the eastern Bighorn foothills. I think the heavy wet snow is more likely to come in Oct/Nov and March/April.
I'm guesstimating here, but it looks like Sheridan reported about .7" QPF over Jan. 26-28, and an observer not too far from me reported 13.4" (not sure the exact time frame and I think snow was still falling). So that's a pretty good ratio :), though the wind was definitely blowing in a good upslope direction.
Got some more snow coming next week, will pay closer attention. Right now the big diff in the forecast is QPF (Euro 1.3", GFS .8").