When we had our first son, we bought the Summer Infant Day & Night Video Monitor for him. It worked out well for us up until recently. He is 4 years old now and we ended up keeping it plugged in all day and all night long. It wouldn't work if it wasn't plugged in. There was also alot of static throughout the night. The static was waking us up in the night, so we just got fed up one night and decided to invest in a new monitor.
We did some research online and bought the Motorola MBP36 Video Monitor. Wow! This monitor is great! We can talk to him through the monitor and we can scan the room and zoom in and out. The clarity is amazing! We can even play music for him, which we don't do since he's 4 years old but this would be great for a newborn. There is only 1 downfall; the monitor doesn't last all night long by itself. In the middle of the night, the monitor will start beeping to let me know that it is about to shut off unless you plug it in. So, if you're in deep sleep you might not hear that beep and it might shut off and you might not be able to hear your child. But if you're a parent, you naturally wake up throughout the night to make sure that your child is ok. So far I LOVE the monitor!