In the Nursery
A Comfy Chair (for Feeding Times)
You should have a special place where you can put up your feet and relax during those countless feedings. The traditional rocking chair is a classic, and can be used for years after the baby is grown, in any room of the house. A good recliner or armchair will also do.
Niceties: A glider chair.
These are indeed nice, however they are also invariably expensive, and very nursery-specific. A special nursing pillow and footstool are additional items that you don't necessarily need.
When you stumble out of bed for night feedings or just want to check on your baby at night, the last thing you want to do is turn on a bright light. Having a dim light that can be safely left on or used as needed is a life-saver, easing the transition between waking and sleeping for both you and baby.
Niceties: A baby monitor
If you live in a smaller home or apartment -- there may be no real need for purchasing a monitor. However, if you have a bigger house, they can be an asset for keeping tabs on your baby at night and during naps.
If you're really pinching pennies, you can use an infant car seat or carrier as a perfectly safe spot for baby to sit. But most parents find that they need a more entertaining contraption as baby reaches the end of the first 6 weeks. Options range from simple bouncing seats to battery-operated swings to baby gyms and (for slightly older babies) activity centers. If you can, let your little one give the various options a test run when visiting friends with babies, then invest in the gadget he or she likes best. These items are also easy to pick up cheaply at garage sales, but make sure any model you buy has not been recalled, is in excellent repair, and meets all safety standards.
Niceties: musical swings and baby jumpers.
Although fun, you can definitely make do without these items.