Not so much a Part 2 (I will get round to it honest..) but a real-world example of the advantage of parent configurations. My current project involves migrating data for a major Norwegian bank, and needless to say we are using a parent package to set the configuration of the child packages actually doing the migration.
As often happens in IT projects we weren't in posession of all of the requirements before we started development. One of the requested changes was significant. The client wanted to use multiple target environments for each release. In other words, our migration server would need to migrate data into n target servers. However, we had baked the target connection string into a database table, which was read by the parent package, so we would have to update the database table every time we wanted to migrate to a different target. I felt this would be a cumbersome and risky operation at runtime. Not only could the connection string be incorrectly updated but we ran the risk of updating the wrong configuration or even wiping out all the configurations. On top of that, there was the possibility that the client might be making the changes themselves. Therefore I thought a change to our package config was required.
The option that seemed most sensible in the circumstances was to allow the target to be set at runtime on the command-line. We were using dtexec to run the migration anyway and using the /SET parameter you can set package properties including package variables (you should always set properties through variables as this insulates yourself against changes to packages).
What has all this got to do with child vs parent package configurations? Well, to make this change for us was simple - we only had to change the parent package and delete the configuration from the database table. If we had been configuring child packages directly we would have had to change every child package using that configuration. As we were doing lookups against the target server this would have been most of the child packages. As the project stands that would have been 3 packages - but had we decided to this in a months time it would probably be 6-8. With that many to do there would have been quite an impact on the project.
Therefore be aware that the most unlikely changes can be requested sometimes, and therefore its almost always best to try and anticipate these changes in your configuration design. Particularly when the costs of such a design are (in my view at least) relatively trivial.