Jewel go for it!!
Remember how long you have wanted to be an F/A, this is a great opportunity. Having worked for Gulf myself, and one British, and now an Australian airline - I can honestly say, just like all airlines it has it's good and bad days/managers/pax - but there is still a good number of Aussie girls working for them enjoying the very social life Bahrain has to offer. My advice go, save your money - make the most of TAX FREE dinars and have a great time.
On the war/safety issue, commonsense prevails, Bahrain has experienced riots recently, non arab women were attacked - having said that, be aware of the situations going on in the country you live in and remain a safe distance from hotspots.. Bahrain is small - any trouble and everyone is aware of where it is.
Good ex pat community Aussies, Brits, Yanks etc etc you will have no problem meeting people and making friends.
Good luck, enjoy yourself