Very cute.
But trust me everyone over-buys for babies.
They need you, food, some clothes, diapers (whatever variety you want), a blanket for the floor, and a safe car seat (unless you never drive, then a safe stroller/carry thing!).
All the rest is optional.
Look at the Michael-Olaf catalog for developmental articles and examples of items to buy, make or find second hand.
Get into a moms group quick and look for families with slightly older children for hand me downs :)
Enjoy the wonderful time
(And ban any plastic toy that makes an annoying noise ... If you value your sanity)