1. Car seat: the hospital must inspect your car seat before you leave so this is a must.  We prefer Britax brand due to the reputation it has in the accident trials.  My husband says it is worth the extra because if anything ever happened to Porter because we were cheap he doesn't know how he could live with himself...it's just money right!? http://www.britaxusa.com/
2. Crib: you are going to need somewhere for the baby to sleep.  We used a bassinet the first three weeks but probably would've been fine with out it.  Mattresses are usually sold separate.  Don't forget sheets and a water proof mattress pad.
3. (Nursing items if you plan on breastfeeding)
A.nipple shield: porter had a high palette so we had to use a nipple shield.  Most people ween their babies off of it, but I still use it 4 months later.  It has kept me from having really any issues with breastfeeding at all.  My nipples have not bleed, calloused, cracked, etc... And I is all thanks to my shield.  The hospital gave me one and I went and bought 3 more when I got home.
B. Soothies gel pads: we used the Lansolin brand but they have many kinds.  I did not use the cream except at first to take hot showers.  The nurse in the hospital said to rub the milk on it and that actually worked to strengthen them.

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C. Burp cloths: if I could I would invent a burp cloth that tucks into your bra under the breast your baby is feeding on.  This would save me having to change my bra or top after every feeding.
D. Nursing tank for the early days with the feedings so close together.
E. The Boppy Pillow: this was preference for me especially in the beginning when I was still weak from giving birth I really needed the support while feeding for 30 minutes or more.
F. Pump: if you are going back to work this is a must! I went back at 7 weeks and there would have been no way to keep up with out the Freestyle Medela pump.

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4. Changing items
A. Diapers diapers diapers....not going to tell where we buy ours only because I don't want my secret place to go up in price or run out ;) but we are able to buy a box of 250 diapers pampers swaddlers for $29.99!
B. wipes I just pick up whatever is on sale or look for coupons
C. Changing station to keep all of your items in.  This really came in handy with frequent changes in the beginning.
D. Diaper cream or vasoline especially for boys circumcision.
E. Diaper champ used to dispose diapers. You can use your own bags and don't need the expensive ones.
5. Monitor we love our video monitor the summer infant touch screen. Although it did stop working randomly about 4 months after porter was born. We just took back to Target and they exchanged for a new one. (If our rooms were closer to his we could probably do without the video but we are thankful to have)

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6. Bottle/nipples/bottle drying rack: although we breastfed we did use bottles when I went back to work. We used Dr.Brown bottles and loved these. The only time Porter ever spit up was when he was sick. Although we never tried any other brand and he was strictly on breastmilk which I have heard that helps. The drying rack was a life saver since washing and drying bottles pretty much becomes a part time job...especially when you go strictly to bottles.