I’m probably far enough away that I can’t give the best advice, but reading through the comments, things I’d agree with or add:
1) congrats and enjoy it. It won’t always be easy but it is great and a blessing.
2) don’t assume a baby being fussy is normal. We had an awful time at first and just thought “babies cry” because of all the negative joking about babies. Turns out it was a minor medical issue and our dubmasses let the baby suffer and make us miserable. If feeding, swaddling, rocking, removing from stimulation, etc doesn’t stop it, ask questions.
3) Do be ready for post partum depression. My wife’s was very intense but pretty short for every kid. Probably short in part because it was too intense for her to hide it and we had the doctor help address it.
4) As you are obviously aware, you actually will have a good bit of “free” time around the house, particularly until they stop napping. Smoking meat and other slow cooking techniques are a great way to pass the time. In hindsight, if I had had the money to burn, I would have put in a practice green at the house. But things like learning an instrument or learning a language or just learning the **** out of things helpful for your job are also good options.
5) there is a balance between putting the baby on a schedule and having the baby adjust to you. It’s nice being able to stay out past 7:30. It’s also nice being able to put the baby to bed on time consistently. We thought we were smart when we could basically take our first kid anywhere at anytime and it be great. We were less impressed with ourselves when we couldn’t get anybody to bed on time at 3 years old.
6) What’s healthy for the relationship with your wife will generally be healthy for the kid(s). Get back to going on regular dates as quickly as possible. I see a lot of women and to a lesser extent men use having a child as an excuse to let themselves go and view their spouse as relatively unimportant compared to the kids. If there is a house fire, sure, save the kids first. But generally, it should be spouse first and kids second if you want to do what is ultimately best for the kids.
7) If you don't already do it, both of you need to start exercising regularly. If you do already do it, don't use having the baby as an excuse to stop. It's going to be hard when it gets more hectic and it will be much harder if you don't have some sort of routine/habit already.
8) With respect to company policy on parental leave, I would see if you can break it up. Have had friends that had the wife take 12 weeks FMLA and the father take the first week at home, and then take the rest of their time after the wife finished their 12 weeks, so the kid gets anywhere from 14 to 18 weeks at home before doing daycare.