Initially yes. Then you start editing those files in the child theme to get the layout that you want. Start with content.php. In the child's version, locate:
<?php if ( 'post' == get_post_type() ) : ?>
<div class="entry-meta">
<?php twentyeleven_posted_on(); ?>
</div><!-- .entry-meta -->
<?php endif; ?>
and remove it. Then find:
<span class="comments-link"><?php comments_popup_link( '<span class="leave-reply">' . __( 'Leave a reply', 'twentyeleven' ) . '</span>', __( '<b>1</b> Reply', 'twentyeleven' ), __( '<b>%</b> Replies', 'twentyeleven' ) ); ?></span>
<?php endif; // End if comments_open() ?>
and add:
<?php if ( 'post' == get_post_type() ) : ?>
<span class="sep"> | </span>
<?php twentyeleven_posted_on(); ?>
<?php endif; ?>
immediately after that.