I just changed the layout of this blog and it was quite a bit of dilemma as to how to organize the various widgets. Finally, came up with the following layout strategy.
The idea is, the widgets have been separated into two categories, one that present timeline of the blog posts and the other that presents the analytics of the blog posts. After observing this, it was an easy decision to place one category on one sidebar and the other category in the second sidebar. This feels like an optimal widget placing strategy.