This is what I do:
--Bed is on box springs on the floor, so isn't very high off the ground
--I have a firm mattress with the sheets pulled very tight
--Bed is in the middle of the room (babies often get wedged between a wall and the bed, which is dangerous)
--I also have an Arms Reach on my side of the bed, but a bedrail would do just as well
--Went done to one pillow that I keep very far from LO
--Dress LO so that he has to have minimal blankets or covers on him to keep warm. I only cover his legs and feet sometimes
--Am still using my summer, thin blanket instead of my super fluffy, thick winter one (which is down... too afraid it is hard to handle and keep away from him)
--I put LO between me and the Arm's Reach
--He sleeps at my chest level with my arm above his head to prevent my pillow from creeping toward him
--He never sleeps next to DH as DH is a heavy sleeper and is more likely to smoosh him
--He also sleeps on his back in the adult bed (even though he is a belly sleeper everywhere else)
So far, this has worked really well for me! But everyone does it a bit different. You just have to figure out what is safe for you.
Lots of people like using nests, too. Look into those!