I am due in June & I made a list of everything that I would like & am planning to get for the baby myself & then if people ask me what I want I just show them the list.
One thing I'm surpirsed no one has mentioned yet is a really nice photo album to put the baby pics in. Smythson have some fabulous ones, which I know are waaaaaaay above your $50, but I'm sure you can find something similar, but cheaper. what I really like about the Smythson ones though is that you can have it embossed with the baby's name to personalise it.
Also, can I suggest something in cashmere, like a nice cardigan, or a blanket, or even a cashmere tddy, something that the baby can keep for years to come?