At 34+6 the baby should have a good chance of doing really well. He/she might need help breathing/feeding in the first couple of days-weeks but unless there have been other problems during her pregnancy then baby should have a brilliant chance at this stage :) I had my first at 28+6 and although I admit it was the hardest thing I've ever done to have to see such a tiny baby wired up to all sorts of monitors and machines for almost 3 months, you just have to remember that they're only there to help. My little one is now almost 7 and doing better than most other kids her age!
As for this pregnancy, I went into labor at 34+5, even got to 4cm dilated, for it all to just slow right down and get sent home in slow labor... I'm now into the 11th day of slow labor and baby is still doing fine :)
I hope this shines a little bit of light on a stressful situation, not all prem labors have lots of problems. Good luck to you and your friend :)
That is early but I hope all goes well. Prayers her way