This seems an odd holiday to me. I actually preferred the way it was years ago.
When I was in school we celebrated two presidents birthdays in February. We had holidays on February 12th (Lincoln's birthday) and February 22nd (Washington's birthday). I always envied my father because his birthday was always a holiday! It was nice because those days fell on random days of the week so we would have two odd days off during the month.
Sometime in the 1960s congress decided to make all federal holidays Mondays. Columbus Day, which used to be held on October 12th, was now the second Monday of October every year. And the combined the two birthdays into one federal holiday and called it Presidents Day. In some ways it may be more convenient to always have a three day weekend, but we actually lost a day off at the end of the day.
Every year when February 12th rolls around I still feel a little cheated.