I think the photo-session is a really great idea ... will be stealing that in years to come . We didn't know the sex of the baby until he arrived, on a Sunday. It was still possible to get hold of a first blue outfit that day before dashing up to visit.
I also like the idea of premium bonds / savings starter - guess that has to be even amongst any other grandchildren.
We are a 'blended family' which means for DD and SIL there are three sets of grandparents. we all gave a sum of money - didn't discuss it, but we all seemed to arrive at the same amount - before GS arrived and left the parents to decide how it was spent. Then we bout an outfit and newspapers for the day to put by.
Slightly different I know, but I have learned what not to give as baby gifts through seeing what my DD and SIL received. They were given a great many cuddly toys, blankets, 'newborn' clothes, which were barely used as he was quite a big baby ... I will always buy one or two sizes up. They also really appreciated the socks they were given - and wrap round bibs.
Enjoy LullyDully, how lovely that your family is growing.