Getting to our hotel

That is about 1/3 of a mile. You would probably walk more if you traverse every aisle at Costco

Unless its all up a steep SF hill, I would think it would be easier than bothering with luggage in/out of a taxi

Some of the best money I've spent on a taxi is getting from a train station to my hotel after a long day of travel. Yes, you can walk it, but depending on weather, tiredness, familiarity with city, etc. you might be better off taking a taxi.

You might cut that down to 100 meters or so by taking the No 4 Tram from HB one stop to Rudolf Brun Bruecke.

It's no more than a 10 min walk, more or less flat, especially if you walk along the river via Limmatquai (small rise up from the river side at some spots when you enter the pedestrian zone). I would not bother with the taxi due to prices - and the walk is probably shorter than what you'll have to do getting from baggage claim to the train at the airport anyway. The tram mentioned is an option, but some of them have steps to enter/exit, so may not really be easier for you.

Just make sure you know what exit you're using when leaving the train station. Twice I've been confused, couldn't get my bearings, because I used the wrong stairs leaving train stations .
Safe travels!

Very true what Pat advised above. Know which street you need to head toward. It could make a huge difference, distance-wise.

In this case, you want the Bahnhofquai exit (not to be confused with Bahnhofstrasse or Bahnhofplatz) - at the far end of the main hall, opposite direction from the tracks. There is a Zurich tourist info office on the left side of the hall, but you want to exit on the right-hand side. Cross the street. The tram station is then to your left, or you can continue walking across a bridge, turn right after the bridge and then you're halfway to your hotel...