SLEEPING GEAR

Bassinet, cradle, or co-sleeper. A crib is the safest baby bed because it's subject to mandatory safety standards, unlike bassinets, cradles, and co-sleepers.
Sleep positioner. These wedge-shaped pieces of foam can be a suffocation hazard.
Everything else in the baby clothes department. Clothes are popular baby gifts, so new moms are bound to get them for months to come.
Crib bedding set. It usually comes with a cushy bumper, blanket, and maybe a pillow, and it makes a nice-looking gift, but soft bedding is a suffocation risk.

MONITORING

Ear, oral, forehead, or under-the-arm thermometer. They're not as precise as rectal models.
Video baby monitor. It's overkill. An audio monitor as an extra set of ears provides all the surveillance you need.

EVERYDAY CARE

Bottle sterilizer. You can get the job done by washing bottles in the top rack of your dishwasher or washing by hand with hot tap water and dishwashing detergent.
More than one package of 40-count disposable diapers in newborn size. Buy in volume when you know your baby's weight and find a brand you like. Larger babies may not fit the smallest size.

BASICS

Sling or soft infant carrier. Babies either love them or hate them, so wait on this one. TIP Borrow a friend's carrier to see how your baby likes it before buying one.
Traditional walker. Even those that meet current safety standards can be dangerous.
Inflatable bath tub or bath seat (the kind that sticks to the bottom of a regular tub with suction cups). They both pose serious drowning risks.
Doorway jumper. No amount of supervision can keep a baby from crashing to the floor. It happens.