We staked out our area about 30 minutes before the parade (Tuesday night). We were very close to where the T2 ride used to be and next to a tree (close to where the Amex club holders area is). And it was a very nice spot, not very crowded at all.
One thing I will mention is last night (Monday) we were riding on a float throwing out the beads and it was a blast. But we did run out of beads to throw before the end of the parade. So if you stake out a place close to the ending route, some floats may not have very many (or any) beads to throw out.