Have you ever heard someone say that kids have more fun with the box than with the toy that came inside?
I don't mean for you to get your newborn nothing but boxes, but just a warning that you don't need to buy a zillion toys. See I use to collect stuffed animals. It started out with a few things, then Poohbears, and then carnival winnings. Thus I had a huge collection of stuffed animals when my daughter was born so she didn't need too many additional ones...but she still got them.
While she does play with some of her toys, stuffed animals, and board games, I wouldn't even say half...ok, maybe half if we took my stuffed animals out of the picture. Her room is full of toys that she doesn't play with and I honestly don't have the strength to toss most of them...even Happy Meal toys.
So take it from me and go easy on the toys. Not only do I not believe that any toy on the market is going to make your kid get into Harvard, but the money you save on toys can go right into the college fund.