You will get too many coats. I hung up Jacob's coats today and he has more coats than there are days to wear them. I have not bought him a single one.
People will give you baby wash, lotion, baby oil, warming gel baby oil, diaper rash balm in obscure brands that you will never use. Especially if you have a baby with sensitive skin!
Receiving blankets are another popular item and I have yet to find a use for most of mine. I made curtains out of two but I have another dozen or so that I never used.
I am sure I have been guilty of buying blankets, toiletries, and other items that everyone else thinks a new mom needs. I've yet to come up with a perfect solution. Handmade items are always well received (well, not always as I have a knitted "boot" in pink and blue that I have never set out) and good art for a baby's room is a great idea. I'm trying to decorate Jacob's walls and I wish I had something special to put up for him. It might be time to go browse Etsy!