I would skip the gift, or wait 'til the baby is born to mail out the thank-yous and include a magnet with his/her pic, birth announcement, whatever...
As far as packing a bag? I always did super early just because I'm impatient and hate waiting... since I couldn't control when the baby came, I occupied myself with preparing! For myself, chapstick was vital! Hard candies, slippers, a robe, hand lotion.. that sort of stuff. For the baby, just their outfit to wear home, booties and blanket.