Couldn't live without:

My Hug a Bub - Nicholas has reflux and lived in it for the first 3 months. You can get heaps done around the house with them in it as well as do shopping etc - still use it a lot now too
lots of cloth nappies - used as spew catchers (again for the reflux!)
Tiny Love activity mat - Nicholas absolutely loves his mat. It plays music, has a mirror, and heaps of things on it for him to grab.
Pram - now that he is heavier, I use the pram a bit more than the Hug a Bub.
Bonds Wondersuits. These were the only things Nic wore for the first 3 months
Lots of bibs! (for the same reason as the nappies - saves having to change the whole outfit all the time)

Now, he loves his Jolly Jumper - I can get the dishes done and the vacuuming done while he happily bounces away in there!

Waste of money:

Baby bath - just had showers instead
Fisher Price swing - my mum bought it and Nic never really liked it.