We had a proper electric steriliser which was useful. And has been used through many other DNieces and DNephews since. But took up space on the counter and needed time to organise and run.
We got some microwave sterilising bags from Mothercare (I think) which were great. Very handy when away from home (fitted either 2 or 3 bottles in there), but if you just needed one in a hurry at home it was also very useful.
Yup - agree on fancy outfits being a waste - DD only actually wore about half of the ones she was given. Babygrows, and lots and lots of them, are all you need early on. There are lovely colours and patterns, and its' useful to have plenty of spares for various explosions etc, so you don't need to be washing every single day.
Even when they get older and start to move more, basic tops, and tracksuits, are far better than lovely outfits for daily wear. Easier to pull on and off, allow plenty of movement, and you are less anxious about them getting dirty so happier to see them out in the mud or whatever.
A pair of wellies, as soon as they get on their feet, is invaluable!!
And the sleeping bags that they wear (Grobags?) - the covers stay on the baby so they don't get cold and wake up crying in the middle of the nap/night, cos they can't kick them off.