Better ways of initializing the object, collections and setting the values

After .NET Framework 3.5 (that comes with C# 3.0), the object and collection initialization has become easier and compact.

For example, assume that I have a Person object like this

public class Person
{
    public string FirstName { get; set; }
    public string LastName { get; set; }
    public string City { get; set; }
}

Before C# 3.0 , we used to initialize the object and set its properties something like

// Traditional way of initializing the object and setting the properties
Person p = new Person();
        p.FirstName = "Sheo";
        p.LastName = "Narayan";
        p.City = "Hyderabad";

To initialize collection and add objects, we used to write something like this

// Traditional way of initialzing the collection and adding the object
        IList<Person> list = new List<Person>();
        // add first object
        Person p1 = new Person();
        p1.FirstName = "Sheo";
        p1.LastName = "Narayan";
        p1.City = "Hyderabad";
        list.Add(p1);
        // add second object
        Person p2 = new Person();
        p2.FirstName = "Sheo";
        p2.LastName = "Narayan";
        p2.City = "Hyderabad";
        list.Add(p2);

From C# 3.0 onwards , we can now initialize the object and set its property something like

        // New way of initializing the object and setting the properties
        Person pp = new Person { FirstName = "Sheo", LastName = "Narayan", City = "Hyderabad" };

to initialize collection and add objects, we can do

        // New way of initializing the collection
        IList<Person> list1 = new List<Person>()
        {
            new Person { FirstName = "Sheo",  LastName="Narayan", City="Hyderabad"},
            new  Person { FirstName = "Sam", LastName="Mark", City="New York" }
        };

            // adding new item to the collection
            list.Add(new Person { FirstName = "Mark", LastName = "Hedge", City = "Chicago" });