Any parents on Southperry? Guessing .. no

Breast feeding is definetly best, but you probably want to have formula ready too because your wife isn't a tap and you can just turn on.

Not sure what you mean by "your wife isn't a tap", but as I wrote above, giving a breastfed baby formula is a good way to make sure you'll have to keep giving it formula.
It might be a good idea to line up a good lactation consultant and maybe go to a class or read up on breastfeeding before the baby is born, just as you'd want to find a good pediatrician. Pretty much all breastfeeding problems result from ignorance. It's not rocket science, but it's also not something one is likely to do right on pure instinct.

Letting the baby cry is a bad idea I think, but people do argue the opposite as well. In my view, crying is the baby's way of communicating discomfort, often it is because the baby's hungry/burps/soiled diaper/rash, etc. So ignoring seems like a bad idea.

The "Ferber Method" doesn't mean ignoring all of the baby's crying. It's only about getting to sleep. When you know there is nothing physically wrong, baby is just tired and lonely.