D.S.
I agree with Lori. Ask your other children what they remember about their first birthday parties. I'll bet all they remember is what they've seen in a picture. The first birthday is a celebration for the FAMILY, because the kid doesn't really understand what that means. You already know this....you have other kids.
If you have a large family that expects to be invited, book the room in the community center, and keep it simple and fun. If not, have a wonderful dinner at home or in a restaurant with just your immediate family (and grandparents if they expect to be included), and take a few great pictures of your daughter blowing out her single candle and eating her piece of cake. That's what she'll remember!!