I write an online column for Examiner.com about the Tournament of Roses, so you can get a lot of information there. You don't have to camp out to get a good place, but there are things you should know.
I don't like promoting my column in a forum, but it's really the best way for you to be able to get a full picture.
I'm the Tournament of Roses Examiner. You can search for that, or for "Tournament of Roses 101" to take you to an article with links to information.
Most of the info is good for any parade, though some of it is specific to 2012 (the date of Jan. 2, for example). Hope it helps. Also, the L.A. Times will be posting their "Pasadena Tournament" magazine online in late December, and I have contributed the sum of my knowledge to that!