pack and play. bassinets are usually small and only go to a certain weight limit. the play pen can be used for years. my sons one and we still use the playpen. he got maybe 3 months out of his bassinet.
I got a pack n play (for the living room) w a changer and just the raised bed/bassinet area under it. we'll have the halo bassinest in the bedroom (borrowed.)
I prefer the pack and play since you will be able to use it later when your child is bigger. you can use it during travel as a bed or just a place to keep your lo contained. where as once your child out grows the bassinet you can't use it anymore.