I bet this is really hard for you guys. What are the doctors saying about the health of the baby at this point? Do they have a projected weight? (often times it can be wrong, but Im wondering what they are saying). Do you have a laptop that you can take to your wife so that she can be in communication with others during bedrest? I know bedrest (even for just a few days) can be so isolating and difficult. I know there are bedrest support forums, and we could start a chat here with her if she wants.
From what I understand, (which is just me researching because Im expecting twins and have a higher risk of preterm labor) is that it's best to get to a point where the baby can have the best chance of thriving outside the womb before taking the baby.
As far as the pain goes, has she been taking tylenol? I know it sounds silly, but I had prodromal labor for 3 weeks last time and tylenol really helped with my back and with the headaches that came from the stress of it all.
Remember, at 34 weeks the survival rate of an infant is 97%, which is almost as high as a full term baby.
Here are some links that might be helpful for you:
Bedrest support forum (these women are likely to have gone through this): http://www.keepemcookin.com/bedrest.aspx
Previous Mothering thread: http://www.mothering.com/community/t/1135480/pprom-at-33-weeks-please-help-dr-wants-to-induce-and-i-am-resisting