The month begins with a 1-1 draw away at Middlesbrough, as Brazilian international Juninho cancels out Watson's first-half goal.
Two more points are dropped in a goalless home draw with struggling West Ham before the Blues travel to Highbury where Rooney registers another wonder goal against Arsenal, but Everton still go down 2-1 thanks to a controversial Patrick Vieira strike and drop out of the top four.
Injury means McBride cuts short his three-month loan spell and returns to the United States after scoring four goals in eight games.
March's final weekend brings one of the highlights of the club's celebration of 100 year of top-flight football - the 100 Years Gala Dinner at St George's Hall. Eighties hero Andy Gray tells the many ex-Evertonians on the 500-strong guest list: "We are the lucky ones to have played for this football club."