Parade is good anywhere, as long as in the front of the side walk, and the fireworks is best to watch on the Railroad Station, you can see EVERYTHING! you just have to get there early. they also have VIP seating there(my dad snuck in there, and the CMs didnt even notice and they were right next to him!)
The parade depends on which show stop you want if you catch the midday one when it is heading to main street. The first the parade stretches from small world to alice in wonderland. The second is the castle is to about the middle of main street. The third is the rest of main street around the hub and backstage where it hides until the second parade and the stop are reversed. Its about 25 mins long. So depending on what you want to see it depends on where you want to be. If you want to see the parade quickly the earlier one you'd be by Small World. If you wanted to catch it later into it be on the being of main street by the train station it once again the later parade all this is reversed. Pinocchino, Alice and the Lion King floats have the best stops because not only is there dancing there is acrobatics. Rambling..... going in order of the first parade stop the Train stops at Alice in Wonderland, next Pinocchino stops in between the mad tea party and Alice in wonderland, the little mermaid in front of the tea cups, and Ursela is in between teacups and Storybook, Beauty and the Beast stops in front of the small world promonade (the upper level with the collages in between SW and Matterhorn. Lion King is in front of Small world and the Castle trails the Parade at the Small World backstage gate by the seamonster shrub. Only done parade control on the fantasyland side so thats what I know.
With the fireworks I'd say watch them two nights once in front of the castle because you will litarally be in the center of it all... not giving anything away, but you tend to miss a few things if your not in front of it. Second Small World you can only see flashes of the little one and you glimpse of tink, and you miss the castle stuff, but what they put on Small World is great too. Really with both of these things the park tried to make it Fantastic to see no matter where you are.