For the baby shower buy a "cute little outfit" that's for when the baby is older. Therefore, you should be able to get it out of season and on clearance. Moms get too many tiny clothes anyway
My wedding standard is based on how well I know the people, how much they spent on my wedding, and how expensive the wedding is (ie, how much did they have to spend to invite me?) Sounds shallow, but . . . Also, never buy a card if you send a present. A little tag is fine.
Finally, buying a gift (opposed to cash or gift card) always leaves more abiguity on what you spent, so if you're trying to put up appearances at a low price, gifts are the way to go. (Unless you can get the discounted gift cards like mj mentioned.) Good luck!