We had dd parent facing til about six months in her pushchair then spun her around. She was happy with either way as she could see everything, I just wouldn't have felt comfortable with her not being able to see me at such an early age, particularly if we were in town or somewhere busy. We borrowed the carrycot from DH's bestie but in all honesty, dd hated it and screamed herself silly every time she was in there so that's why we ended up with a sling.
We will be using a crib next to my bed for this bubba and he/she will be in our room for at least six months, possibly nine. I plan on bfing again and there's not a chance on earth I'm trudging into another room every 90 minutes to feed. As you probably know by now, I'm a worrier by nature so the SIDs thing would play on my mind too (despite my nephew and a good friend's baby both being in their own rooms from a week old and being perfectly fine!)
You're so right about not ever being prepared enough for the whole "reality" of parenthood in those first few weeks nature! Eek. We know what we are doing as well! Gluttons for punishment? So worth it though, hey?