Our first purchase was the dresser that we will repaint to use as a changing table. I love the height. The top 3 drawers are also double-deep, which will come in handy for storing lots of diapers. We found the dresser at a consignment shop for $111. Brian has since stripped the piece, and we are waiting for our neighbor to help us even out the drawers (they are a bit tilted from age).
UPDATE: August 2012
We're still working on the nursery :) Sophia surprised us almost a month early, so give us a break! Here's a shot of the changing table now. We ended up using the original hardware because it looked fabulous with the Sage Milkpaint and Brown Glaze! (Note to self, when working with glaze, don't do it outside where the sun can warm the wood. It makes it so difficult for the glaze to spread smoothly and evenly.)
I really love the dot mobile I've got hanging from fishing line just above the changing area. I can give it a blow and it amuses Miss S almost the entire time I'm changing her.