What I've learned

Babies can projectile poo as well as projectile vomit.
Baby clothes generally suck. Finding cool clothes is a challenge.
"Should" is a dirty word (eg: "your baby should be doing this by now")
You don't instantly become one of those parents who only talks about their kids when you have a kid (thank god).
You don't have to stop doing everything you loved doing before you had a kid (just some of them, for a little while).
Bassinets and baby baths are a waste of money.
Babies have personalities. They are all different.
The notion of going "back to work" is hilarious. I'd happily trade my 12-15 hour, 7 day a week job for working 8-9 hours a day with weekends off. It'd be bloody marvellous.
You have to get to know your baby. This can take months.
Dummies are not a bad thing.
Not everyone is suited to staying at home with a baby - you have to be patient, patient, patient (and I'm really not!).
Having a baby opens you up to your community - neighbours suddenly say hello.
We are lucky, lucky, lucky to live in Australia - there's a lot of help available if you have a baby, from mothers' groups to free injections.
There's nothing more beautiful than the sight of your sleeping baby.
There's no better feeling than when your baby smiles at you.