What do you send a friend when he is expecting his first child but he literally has everything? When you say "hes got money to blow" its not a joke with this guy, I have no clue what the wife & I can get for his son.
Good question. Thinking of the best gifts for those deserving usually is the wife's job, and she really is good at it. Anyway, what about gifting something they cannot find in the stores, something you make yourself?
What a great question... if they have everything they need why not get them a night away. Offer to babysit their new baby (with your wife of course) when the baby is a bit older.
I agree with Restless. I think everyone loves to get a gift, no matter how wealthy he is. I would just suggest you use your intuition, or just get nice things for the baby.