Yeah, don't waste the money (or ask someone to waste the money) on a PanOptic or anything fancy. I'd argue against getting an ophthalmoscope at all. The only time you even use it in med school is to practice and during Neurology if you're on a consult service. If you do get one, get the Welsh-Allyn with the Li-ion handle and standard direct ophthalmoscope like the others have suggested. Very light-weight if you don't carry it around in the case.
As for the stethoscopes, Littman Cardio III, like previously mentioned, is a pretty standard and good quality. I like it because it has a the dual diaphragm, which becomes useful during the Pediatrics rotation.
Other little inexpensive things you'll probably need are a tuning fork, reflex hammer, and penlight. (You can get reflex hammers and penlights from pharm reps, but you probably don't have access to them yet.)
Oh, and if your school tells you to buy a BP cuff--don't. It's totally not worth it. Biggest scam ever.