Fe2002, I am from Israel and it is the habit not to buy ANYTHING before the birth of the baby. (Well, we place an order to a babyshop for crib, bottles etc. but it does not get delivered until baby is born). I don't know exactly why we have this custom but if you think about it, it actually makes sense.
I suggest you to just wait until the baby is born and everything is ok before you give your friend a gift.
About the gift itself: If you want to give a gift which is typically Jewish, you might consider buying her e.g. a set of Shabbat candle holders. We have the habit to light two candles every Friday night. Some families light additional candles for every child in the family so that's why I thought that it might be a nice gift
(you can read more about Shabbat candles by googling "shabbat candles" - I found the second link by Chabad very useful)
All the best to you and your friend!
__________________
10/03/05: Signed up with domestic agency
10/24/05: Matched!!!
11/16/05: Beautiful son Kiran is born
5/19/06: Finalized!!!
9/17/08: Second time: Home study ready
10/22/08: Signed up with agency ... nothing ...
1/15/09: Had enough, signed up with attorney
5/12/09: Beautiful daughter Nanda is born
5/15/09: ... and placed in my arms