Hi Shibani
I have had about 12 different pushchairs and buggies - not that I want to instill fear in you- but it may take a while to find what you're after! I have finally settled on a Phil & Teds Sport for my two boys (Jake, 2 and a half, and Benji who is 1 year) but along the way I have found that having an interchangable pram like the ones Mamas and Papas offer the best ones. It's only because I rely so heavily on public transport that I have experimented with so many!
When both Jacob and Benji were newborns, I used the Mamas and Papas carrycot for them to sleep in with the mattress and appropriate bedding at night, it also meant for baby number 2 (Benji) that he could sleep in the carrycot in the living room during the day and we didn't have to wedge the cot in our room at night.
Also when we were out and about they could lie flat and were snug and cosy in the carrycot on the M&P chassis. Versatility at it's best!
You can use the carrycot with your baby until they can sit up really- or, like my two giant babies when they get to big to fit!
We were bought a gorgeous cotbed for Jacob while I was pregnant with him, and if it wasn't for the arrival of his baby brother we would have used it as his junior bed now.
As it is we are moving soon, and when Benji grows out of the cot because the boys share a bedroom we are buying them bunkbeds so we will never use it in 'bed' mode, but it's definately worth the investment. Cotbeds are invariably more well made (thicker bars more sturdy mattress support) because they need to last through baby and toddler and preschool age!
Jacob was fond of kicking the bars on his cot when he was about 11 months old, and he was a big strong baby- I really would've worried with spindle bars on a regular size cot that he would've broken them!
I have had 3 pushchairs from M&P - one with a classic fixed wheel chassis and carrycot that was given to us when I was pregnant with Jacob that I intend to keep for use with all my newborn babies because the carrycot is so fantastic - we later bought a M&P Aria in the sale that was fabulous and lightweight and great when we went on holiday, and I also picked up a M&P Freestyler cheap on ebay and all of them I have found well made and generally good all rounder pushchairs.
I hope some of that rambling helps!!