You can arrange and move the positions of Pagelets and Callouts using the Inspector and some careful jiggling.

• Individual pagelets on parent pages can be turned off from showing on child pages..
Note 1: If the pagelet is on the sites's home page, this will turn them off on the whole site.
Note 2: If the pagelet is shown on child pages, it will be above any pagelets added to the child page.

Click on the pagelet on the parent page and open the Inspector to see this:

Parent Pagelet Inspector

• If a weblog collection is added, you can turn off all pagelets from the parent (e.g. the home page) from the Inspector for the weblog collection page.
  
Collection Page Inspector

• Pagelets have the preference to 'Prefers bottom' (don't we all?). If these pagelets appear on a child page, they will be below the pagelets created on the child page.
Note: In this way you can have parent pagelets appear above and below child pagelets if some pagelets on the parent have the Tick - 'Prefers bottom' and others are left unticked.

• The pagelets on a specific page or collection can be moved up and down between each other using the little arrowhead symbols on the Inspector for each pagelet:
  



Note: These arrowheads won't move the parent pagelets on the child page. The parent pagelets need to be adjusted on the parent's page.

• Callouts: To re-arrange Callouts just click on the Callout pagelet to select it, open the Inspector and use the arrowheads to move the pagelet up or down. 

Note: Callout are NOT copied onto Child pages. This can be used to advantage as a quick way to stop a pagelet appearing on child pages by simply changing a Pagelet from Sidebar  to Callout