Check out the recently released 'Baby Dam' (just google it - an Aussie product by Goldbug). I'm thinking about getting one as our bath is very deep - fantastic for adults but not really practical for bathing kids. I figure I can sit in the dry part of the bath if I dam up one end of the bath. There is some info about it here: Save 18,250 litres of water per year when you bath your baby! - Babynews

We're using our laundry sink in the beginning (it's a good porcelain one and a perfect baby bath) and I have a lay-back baby seat to use if necessary as well. I also plan on getting one of the seats that suction to the bottom of the bath to use when bubs can sit up. Both my nephews have used one and it's been great.