...lol... ;o) congrats on the baby!!! I have no kids so I don't have any advice...but it seems like millions of people have babies who are probably less prepared than you are so I'm willing to bet it will be the most amazing thing that's ever happened to you. =) Cheers!
^^^^ This is probably the smartest thing I've ever heard from a non-parent.
Congratulations Silver!!! what an exciting time. I almost wish I could do it again, I'm sure my son's are glad I won't be though.
Like LonePhantom said.........extra essentials!!! When you think you have enough- double up!!! you won't believe how fast a baby can ruin anything made of cloth.
When it comes to larger stuff, don't waste your time or money on the bells and whistles. Keep it simple. Your almost 40. You don't want to be fighting with a monstrous car seat every day. Remember, anything you buy you'll have to carry around every day til they grow out of it. A stroller with cupholders, odometers, video games, and every other piece of gimmicry they put on them is more weight that you and your wife have to lug around and up and down stairs. STREAMLINE.....and keep it cheap. pretty much everything you buy will be in the trash after a years use.
Spend money on baby-proofing your home. It's never too early to start that project.
Spend good money only on the things you think you'll use again (second child?).
For your sanity.... get a baby swing. It's like infant knock-out drops.....