My nurse gave me an idea. You could buy different infant outfits that YOU like that would say something like "I love my grandma", "You are the best uncle ever", you get the idea. Wrap the gifts and then have the whole family open their gifts at the same time. In the end you reveal the news, get to keep the outfits, but with a promise that a special picture (that you will probably take a million of anyway) will be coming their way with a baby wearing that outfit.
Umm, it's not a gift if you take it back.
You could do appropriately colored bibs with "I love my...." and have those "live" at grandparent's house for when baby comes to visit!