Congrats!! That's exciting news!!
Couple of tips that I learned from my munchkin....
1) Plastic dog playpens are your friend--you can get the superyard "kids version" for about $200 or you can buy the "dog version" (which is exactly the same btw except for the picture on the box) for about $40-$60.
2) Most baby "necessities" are crap--you really don't need much more than a good set of bottles (I loved the Avent ones), a pacifier or two, diapers, wipes, a diaper holder thingy (for the unused ones), a small trash can (diapers don't stink that bad, and diaper genies don't really work--I tried two or three), a breast pump (if you plan to do that), the website
www.1800diapers.com for diapers and formula, a bed for the wee one, and some clothes and a good stiff blanket for swaddling. I also had a sleep sack thingy for my munchkin when he got a bit older, and I wish I'd have sewn some more after he outgrew that one--one of the better investments.
3) Learn to swaddle--practice now, so that you have the basic technique before you throw a squirming baby into the mix...sounds silly, but the swaddle thing REALLY works!! That way YOU can get some sleep once in a while.

Unless you're lucky like me and your little one sleeps the day after he was born for the whole night and has ever since.