Try to use acid free adhesives for mounting your precious photographs. You can buy these in a craft shop like Hobbycraft and they are marked as suitable for use with photos. (The acid in some adhesives can react with your photos and ruin them). You can also get little pockets for storing items such as the hospital band. You should also use acid free paper and card. (It can be bloody expensive, but it is worth it when you create something that you are proud of - as well as the baby!)
Grab a shoebox to put things in for now. And when you are given the red book, be sure to fill in the milestone dates. As long as you have the newspaper, hospital band etc you can make a baby book when the baby starts letting you have time to yourself in 2014. We were also given 2 "fill in the gaps" baby books.