I transfer in ZRH quite frequently and with 45 minute connection, having to bus to the terminal, going through security, and finding your gate it is more than enough time! I actually was flying LHR-ZRH-DME on Sunday and my ZRH-DME flight was delayed 15 minutes. The reason written on the TV at the gate was "Connecting Passengers"....so I would not be too worried, even if you're a little late. Just sit as close to the front of the plane as possible.

The lounge is nothing special, but they do have Movenpick ice cream!