I have to agree about the mei tais being good for newborns depending on how big it is (some are a lot bigger than others!). A hair tie or ribbon can cinch the bottom so that their can be legs out. The current recommendation is feet out for infants, not froggied (though if that's what the baby wants, I would not force feet out). A baby should be supported from knee to knee with the knees higher than their butt, feet out. A smaller bodied mei tai, like the Mei Tai Baby for instance, achieves this quite well. Ring sings are great infant carriers too. It's really great that there are multiple choices for carriers that work well with a newborn AND that can be used for a long time past that stage.
Krystal, Sleeping Baby Productions has good affordable ring slings. The owner, Jan, is very friendly and does a good job of answering questions. Her site also has TONS of information on it for using them and more!
I love my ring sling, but if I'm going to be wearing DS longer than 30-45 minutes I need a two shoulder carry (even as a lighter, younger baby). That's when I used my mei tais. I can wear him for hours in a mei tai!