I've put together some of what I've stated before and corrected my progressively worsening spelling for clarity. And...more links!
You have a very high chance of loosing one or more pieces of your medical gear at one time or another in your training and you're just going through the motions for most of the first few years anyways, so save the fear of having to find/grade complicated murmurs and the equipment needed to hear them properly for the time when you'll actually use them. You will also be cleaning it with some sort of mildly abrasive chemical between patients and this will degrade any manufacturers' equipment over time. After finding out that you just examined a patient with TB/MRSA/Tiny insects/Acinetobacter, don't be ashamed to want to soak this in peroxide for a few hours or throw it away, either. Put a glove on it before using it on inpatients and you'll be much safer from the start.
Buy the higher-end ADC or MDF steths, such as their cardiology-oriented ones and you'll be more than fine and spend little more than the $100 you would have spent getting a low to mid grade Littman. Amazon has great reviews to guide you along in this case.
Great ADC that is appropriate from the first day of training until you loose it:
http://www.allheart.com/adc-stethoscope/p/adc601/
Same for this MDF:
http://www.allheart.com/mdf-stethoscope/p/mdf797dd/
If you absolutely have to buy an expensive high-end steth, get the one that records heart sounds so you can go home and study them and look like a star on rounds the next day when you've got the murmur/grading nailed. They have mixed reviews over whether they really make your life easier and/or if they're worth the money.
ADC: around $250
http://www.allheart.com/adc-advanced-electronic-stethoscope/p/adc657/
Thinklabs for around $250, $300 with the iPhone software
http://www.thinklabsdirect.com/id2
If you must have a Littman: around $350
http://www.allheart.com/3m-littmann-stethoscope/p/litt3100/
Low-tech, Baller-status steth that will get you brutally pimped on rounds:
Welch Allen Triple Head model 5079-321: around $300
http://www.allheart.com/product.aspx?p=ty507932xth
The Welch-Allyn optho is just a very expensive crutch that you'll hardly ever carry around with you on rounds and may have a $400 window in your car broken if you keep it there while parked in the wrong place at the wrong time. Use the school ones mounted in the exam rooms to learn what to look for, an online optho slide set to know what you should see, then use the basic one as soon as you're proficient. Tell your attending that you're not good at auscultation or ophthalmic exams without your Ferrari-level equipment that you may or may not have on you or in your car and see how well that goes over.
Buy everything but your stethoscope from ebay, as they have plenty of generic equipment that works, but will take around 2 weeks to get to you from China. My total cost for equipment was around $150 for my entire time in med school and nobody did or should complain about the brand you have and yes, you will likely never use the majority of it again after your first 2 years of medical school. Embrace anything that has "Nurses, Mom, Home" in the title because that means just as good for what you're doing for half the price.
Get an LED light for anything that requires a light:
Good oto kit for under $50:
http://www.ebay.com/itm/NEW-for-201...108?pt=LH_DefaultDomain_0&hash=item51a66b9bf4
You'll mainly need the 128 and 512 Hz tuning forks, if at all: $Under 10 for both
http://www.ebay.com/itm/NEW-Tuning-...276?pt=LH_DefaultDomain_0&hash=item1c2ace2904
http://www.ebay.com/itm/NEW-Tuning-...427?pt=LH_DefaultDomain_0&hash=item25a29014b3
Pen light:
http://www.ebay.com/itm/LED-Nurse-M...956?pt=LH_DefaultDomain_0&hash=item1e85dd2e74
Keep a clip full of much of this stuff in your white coat to be super helpful and faster than calling a nurse over to cut a bandage off.
http://www.ebay.com/itm/Nurse-Medic...333?pt=LH_DefaultDomain_0&hash=item1e84cad1a5
Great to start practicing suture on, the walmart generic is just as good and much cheaper over time.
http://www.walmart.com/ip/Mr.-Clean-Magic-Eraser-Variety-Tub-6ct/17201599
Get expired suture from ebay too. There's tons of it for cheap there.
Peace.