We spent 11 days without power last January during an ice storm that was much like the current one. Lows in the single digits followed the storms. It was lethal to those without heat, and folks did die. We only missed this stom by a few miles, and I am grateful to be sitting this one out.
My experience with the last storm taught me a few things about heat.
1. If you have all electric heat, your screwed unless you want to buy a very large (15-20kw minimum) generator.
2. A gas furnace and a fridge can be powered by a 3000 watt generator, but that's about it.
3. City supplied water is a wonderful thing if the power goes out.
We live on a well, have gas fired furnaces, and no non-electric sources of heat. We were forced out of our home for the first 3 days because I was not prepared to deal with no power. Luckily I have family that uses wood heat and gas stoves for cooking. Bunking with 11 family members and a 1 year old is not a good time though, so we found a way to get back in our home ASAP. I had to go to at least a 7000 watt generator to run a freezer, fridge, furnace, and well pump. It will also pull a light or two and the TV, which is a big plus if you have kids.
We now own an 8500 watt generator, and a transfer switch. If the power goes I can get us back up and running in about 10 minutes. We did buy a portable unit, so fuel is an issue, but you usually know when a hurricane or ice storm is coming. With that in mind, we own (4) 6 gallon gas cans. I go fill them before the potential event and thus have a 3 day supply of fuel for the gen if needed. If we don't need the fuel, I just fill up the cars with it, so it's no big deal.
Living in a rural area on a well and overhead lines and not owning a generator is just stupid. If there is any chance of a weather related event in your area, especially if you have children, you need to be prepared.