Monthly picture on one side, text on the other about the month. Take it a step further by taking their picture with the same thing every month so you can see how they've grow and change. Maybe continuation of pregnancy book
DIY baby book with maternity pictures and weekly belly shots. For 41 weeks, set up a tripod to take front and side pics of growing belly. additional graphics: pregnancy announcement, baby name choices as they are narrowed down, pregnancy cravings, etc.
Create a Children's Book for your own kid called "The Day I was Born" using your own personal pictures and pint size productions. Perfect gift for yourself and family! So much better than the silly baby book I have and never use.