I'm a bit of a minimalist when it comes to baby stuff.
People have covered the basics and then some already here
Consider what sort of approach you would like to have to things for baby. Do you want *everything* or would you rather cover the basics and then add as you find you need/want as LO grows.
With regards to clothes in the first few months, 15 odd years of nannying for children has taught me that things like sleepsuits and vests are your best bet in the early months. Much easier to manage changing LO and more comfy also than trying to put on trousers, skirts, tops and so on. So stock up on about 8 sleepsuits and same in vests and save your pennies for outfits once they are past those early months. I tend to go less on newborn size and get more in in 0-3 months in sleepsuits etc. You may have a long baby, or one that gains weight quickly and newborn stuff is soon grown out of.
It's recommended if your plan to BF to not use a dummy in the early weeks as it teaches the baby to suck incorrectly and when on your nipple they might not suck as they need to then. Also its suggested to BF exclusively (not even breast milk in a bottle for baby apparently) till at least 6 weeks. But having a few bottles etc would be good from the off, in case you want to store a bit of milk and give in a cup. I'm not bothering with a breast pump as hope to be able to express my own milk manually once I get the hang of it. Meant to be quicker and less painful also I am told. Also I can't be doing with spending money on such a thing when I can do it myself
I also suggest a nasal aspirator. Not expensive and great if LO is ever bunged up. I found them really useful with quite a number of small babies.
Muslin squares - you can never have too many IMO. I wear one on my shoulder constantly when caring for a LO and get through a few a day. Its that or start wearing oatmeal coloured tops
I don't go much for smellies in the early months. No shampoo or baby soap. Just water. Same with wipes, I prefer cotton wool.
Sleeping bag for babies are great. I prefer these over blankets. Have a look online for pricing and suitability.
Compared to some peoples lists, mine is about half the length. But I kind of know what I want/need for a baby as I've cared for so many over the years and feel happy with what will work for me. It might not suit someone else.
I tend to try to remember that whatever I buy will be sat somewhere in the house causing clutter. And in those early months for me its making things easier for myself. So long as I have the basics I can go out and get anything else as I find I need or want it.
Mothercare have checklists also. Have a look and cover the basics and then consider the extras you may like. But have a look at your house, your lifestyle and how you do things and see if you can picture it working for you. Go have a look at them in store and tinker
Cheers!!!! 
