I would really like to have my sidebar gadgets floating over my windows. I know that it is possible to make your sidebar visible while windows are at maximum, but it takes out a chunk of the screen. So is it possible for my gadgets such as my clock to just float on the left side?

But if that were the case, you'd lose functions in the parts of your windows that were below the bar. You're better off learning to use the shortcuts:

WinKey + Spacebar
and
WinKey + G

Well, I assume that if I just let my gadgets above, I would still be able to click on things?

Is that possible?

Drag the gadget out of the sidebar on the desktop. right click it and select "Always on Top".
If its the notepad gadget right click near the edge on the gadget.
Now you can right click "close sidebar" (not close the program) and the gadgets will stay on the desktop.

Thanks a lot! You two were very helpful.