I had the 3 drawer for my first and although the drawers are good sized, it still wasn't enough to hold all that baby stuff. I found myself constantly emptying out the drawers to eliminate everything that DD had grown out of so that I could squeeze in more stuff. Also, when she was a few months old, she would kick off the wipe warmer while I was changing her because there just wasn't room for much else besides the changing pad. It was a good size for a very small room however.
Since then we have moved into a bigger house with a larger nursery so we bought the 8 drawer and I already love it. The drawers are so spacious, and there is plenty of room for the changing pad, wipe warmer and a basket of diapers on top. I filled it with all the clothes for the first few months and even had room for the extra blankets and crib sheets etc. Best of all, I know that it will be this kids "forever" dresser.