When DD was born she went straight into her cot in her own room - we had a couple of unsettled nights at first, but one of my previously worn t-shirts under the sheet fixed that and she was fine. Admittedly her room practically adjoined mine and with both doors open I could hear her clearly as soon as she started to stir as I'm a pretty light sleeper.

This time I'm planning a cradle in our room to begin with as the baby's room is at the opposite end of the house, plus we're inheriting the cot from SIL and our neice is still using it - the cradle will give a bit more time for the adjustment if needed. But it's all about what works for you and what you're comfortable with. Possibly seeing if you can pick up a second hand bassinet might be the go as even the bigger ones usually only do about 6 months or so.