I thought the circles were listed in alphabetical order, and started prefixing them like "1-Family", "3-Acquaintances", "9-Strangers" but now I added a "5" which is listed last in the circles screen and in dropdown lists.
What's the sorting logic, and can it be influenced?
(Of course this could be a feature they're still working on.)
Best Answer
Just announced: You can now manually re-order your Circles.
Announcement on Google+ by a Google Engineer, with video
It's now basically as easy as:
Left to right will appear highest to lowest on the sidebar when viewing your stream and wherever else your circles list appears.