Help with 4 day itinerary to Switzerland

If you wish to visit Luzern, why not go there directly from the airport? It is only about 1 hour on a direct train.

I was thinking we could go around Zurich and stay on Lake Zurich for one night? Do you feel Luzern and wengen have more to offer as far as the switzerland experience goes and we should skip Zurich and go straight to Luzern?

Yes, skip Zurich area, go direct to Luzern.

Also is it worth getting the Swiss rail pass for the above itinerary or the half pass?

You really need to add up your rail costs on a spread sheet and go from there. Costs are at www.sbb.ch. Just be aware that costs shown on the first page assume you already have a Half Fare Card. Thus the statement "prices from". Click on the selected train(s) and click on "no reduction" from the drop down menu.
The 30-day Half Fare Card only pays off if you have more than 240 chf worth of tickets per person.
Another factor is, do you want to do any mountain lifts/railways while there? Keep in mind, that if you do the Jungfraujoch, the top is about 4000 meters above sea level. Breathing may be difficult for the elderly.

My opinion, for what it is worth, is that the Swiss Travel Pass rarely saves money unless you travel from one end of Switzerland to the other every day. It has other benefits, like not having to stop at the ticket window or ticket automat before getting on a train. But it still only give a 50% discount on mountain lifts/railways. And in the case of the Jungfraujoch, it only gives a 25% discount above Wengen. The Half Fare Card still gives 50% discount. The Travel Pass also gives free entry to many museums.

Skip Zurich. From ZRH catch the train for Luzern. 1 hour.

Stay in Luzern and venture out from there for day trips. Go slow and enjoy.

I agree. Maximize Luzerne. Your parents will enjoy the boat rides on the lake. If adventurous go up Mt. Pilates, or even less adventurous go up the Rigi. Take the boat to Vitznau and jump on the Rigibahn. Wonderful Alps views. Have lunch there.

Thank you for all you input. So we will eliminate Wengen and concentrate on Luzerne. However when I was researching hotels in Luzerne, I came across the Hotel villa Honegg. I understand this hotel is about 20 minutes away from Luzerne. It looks beautiful and we would love to stay there, anyone have any experience on going to and fro from the hotel to Luzerne to take a boat ride on the lake or just stroll thru the town or even visit one of the two peaks mentioned.

We stayed in the Altstadt area, and found that to be a great and central area for walking and exploring. We were close to cafes, fountains, shops, and the River Reuss with the beautiful bridges. I second the recommendation for a lake cruise aboard a paddlewheel steamer. You can choose your length of journey based on their timetables, and first or second class. We opted to go to Weggis, rather than a simple out of the harbor and back cruise. As we'd had a great mountaintop experience in Engelberg, we did not go to Rigi or Pilatus, but it seems that those would be lovely and accessible choices for you and your parents. We had a beautiful day to travel, so chose to upgrade to first class for better seats on the return trip. That was one of my favorite parts of the vacation - and those photos still bring us back to that serene cruise on our last full day in Switzerland.

Enjoy!
Laurie