Had a look today as it is enroute to work. Madeira Drive is being closed from 6am Sat morning. The road overlooking Madeira is only pay at metre from 9am- 8pm so if people want to you can probably get away with parking up there Fri night.
Jus for future reference.. I stayed on Madeira drive just past Concorde2 club (not too near its horrible noisy place!) and we didnt get moved on or have to pay the following morning that was despite me asking too so nice saving there!!