We don't have any children at the moment so when my wife was asked to go to a baby shower for a friend of hers it was important to know what moms to be want. So I did some asking around and here are the top 6 things they suggested.
Theme Gifts : Fill a diaper bag with diapers and wipes. Fill a Baby tub with tub toys and baby shampoo and lotion and a soft towel.
Baby Proofing Items: Baby gates and electrical plugs
Handmade quilts or knitted receiving blanket
Toiletries - Baby Powder, Diaper rash creme, Baby Shampoo and Lotion
My wife opted to get her friend (who's having a girl) her first doll. It's not something that the baby can use right away, but it makes a nice addition to the baby's room. My wife said that the whole room when "awwweee!" A baseball and bat would make a great gift for a boy.
If you opt to buy baby clothes, stick to 6-12 months. The baby will outgrow the smaller clothes so fast.
A baby is a precious gift for a family.