Re: pack n play versus crib
Well, we ended up with a bassinet, a pack & play, and a crib. :D (We bought the crib, and the other two we got as gifts.) To be honest, we used each to the fullest. The first few months, izzah was in her bassinet. We hardly used the pack & play initially. I did keep it downstairs for the occasional naps downstairs, which hardly lasted a week or so. I preferred to put her down for a nap in her bassinet. As she outgrew the bassinet, we put the pack & play in our room (replacing the bassinet.) Now that she's over 6 months, we have moved her to her own room with the crib, which we had set up before she was born.
So that was our situation. Now for suggestions, I'm completely happy having both the crib and pack & play. The playard with the bassinet works out perfectly for trips, even if you don't use it at home. But since you're looking for something compact, it should work perfectly. They do suggest not to use the pack & play bassinet once the baby is able to stand up, but you could always use the lower level of the pack & play, I guess. The time period we used the pack & play as her bed, it did seem like it was temporary. Now that she's in a crib, it seems more permanent and more bed-like. If the crib seems too big, you could always swaddle your baby tightly to make him/her feel snug.