How about this revised itinerary? The difference is that I cut a day from Interlaken. One question.... should I cut one day from Lausanne and see Zurich? Am I missing out on much by not going to Zurich? (other than to catch a flight?)

Day 1 - Geneva (arriving)
2 - Lausanne
3 - Lausanne - Montreaux/Vevey
4 - Lausanne - Chocolate train
5 - Train from Lausanne to Fribourg to Interlaken
(send luggage straight to Interlaken)
6 - Interlaken
7 - Interlaken Bernese Oberland
8 - Zermatt
9 - Zermatt - Matterhorn
10 - Glacier Express train from Zermatt to St. Moritz
11 - Palm Express bus to Lugano
12 - Lugano
13 - William Tell Express train to Lucerne
14 - Lucerne