I have to first admit that I have not read through the entire thread...so if I repeat advice I apologize.
There are so many gizmos and gadgets for babies, almost all are uneccessary (nice, but not essentials). For instance, I rarely change our baby on the changing table. I useour bed, or the floor,or the couch with a changing pad beneath her.
And cosignment shops, rummage/yard sales are a GREAT source of items. Just make sure they are in good shape and not too old (unsafe).
car seat-buy new or get from someone you know/trust that it was not in an accident.
crib-
walmart or resale work just as well as fancy ones. Just read up on safety tips (distance between slats, etc) to be sure it is safe for baby. You can often get manuals online for products (to be sure they are assembled correctly). You don't need a convertible one.
I do think some sort of bouncy seat is nice. It can be plain jane. The point is for baby to be able to look around while hanging out awake. As nice as it is to hold baby, sometimes you need to set him/her down. Plus, as they get a little older (3 mos or so)it is good for them to learn to entertain themselves for short periods of time.
Swing...DD #1 needed it to sleep sometimes (so much that we bought a travel one too) DD#2 would have been fine without it. Again, plain ones do the trick. You don't need a fancy baby papasan swing. I bought one for DD #2 and while it is nice, I wish I had that $140 back in my pocket.
Later (like 3-4 months) the exersaucer comes in handy. again, plainer ones work great too.
If you are going to breastfeed get some sort of pump, even if just a hand one.
baby bath- with DD #1 I liked to get in the tub with baby and wash her up, then dad came and picked her out and dried her. with # 2 I ususally use a baby tub and wash her on the living room floor...more space and I sit on the floor instead of bending over and killing my back.
I don't think a pack n play is needed unless you travel a lot, we like ours for when we visit my grandma (we do this often). It is our travel bed.