It is possible(we did BCN-BKK via ZRH as well). Your luggage should be tagged all the way to your final destination. Any hand luggage can be stored at the airport lockers on arrival in zurich. But make sure you have a plan of what to do and see otherwise you will be just wasting time roaming around. We also took the train into the city, took the ferry and the funicular up the hill to the University(there is a tram which brings you to the airport from there). We toured the old part of town and had a lively lunch before taking the street tram from outside the university to the airport. At the airport went into the lounge showered, ate something and got ready for our flight to BKK. There is a thread here somewhere that gives you an itinerary for touring if you wish to follow it.

http://www.flyertalk.com/forum/swiss...r-zhr-lhr.html