WB Eric, and timely topic. DW and I are currently evaluating our FAKs, but alas we don’t have medical backgrounds. DW works in the local hospital (social worker) and has access to docs and info. For the meds, we are looking at the variety of OTC meds and prescription meds we use/have in our home as a starting point. Things we are looking at include:

OTC meds
Anti-inflammatory/pain relief/fever reducer – ibuprofen tablets
Allergy Meds (Antihistamine/Decongestant) – generic benadryl or generic zyrtec and decongestant tabs (considering other alternatives as most allergy meds put DW down for the count)
Cold/Flu remedy – generic Nyquil works for me as it doesn’t make me sleepy, but others may need something like generic Dayquil – everyone has their own preference – along these lines might want to include something for coughs as well (thinking mucus relief type stuff with cough suppressant - the DM version basically)
Anti-Diarrheal – Generic Immodium or similar
Constipation (the other end of the spectrum) – generic ex-lax or possibly just a stool softener
Antacid/Acid reducer – generic Tums, generic acid reducer or similar (Considering Pink Bismuth as it could also serve as an anti-diarrheal but effectiveness is a consideration)
Aspirin – I am on a daily low dose regimen and as pointed out already it serves other uses as well
Considerations for DS as well – Childrens versions of above meds where appropriate and include dosing chart and measuring syringes
Something for Nausea – not sure how much a concern this will be but a vial of Dramamine or similar doesn’t take up much room
Assortment of creams/salves – itch relief, anti-fungal, petroleum jelly, etc
Feminine related stuff – DW is in charge of that

Prescription Meds
Blood Pressure meds for DW, stratera for DS, and insulin-dependent diabetic supplies for myself

I would like to be able to include some broad spectrum antibiotics and pain meds in our supplies but there is such a problem with people addicted to prescription pain killers in our area that they may be hard to come by. The recent events in Japan have me thinking of including some of the iodine treatment (potassium iodide is it?) as well. The hydration salts, pedialite and saline seem like a good idea as well. You are right about benadryl making most people sleepy, and you can add Dramamine to that list of taking the edge off of pain as well (use with caution and YMMV)