I will be arriving in Zurich on May 5th. If the weather is good I would travel Zurich-Chur, then Chur to Zermatt on the Glacier Express. 1 night in Zermatt then on to Murren for 5 nights. While in Murren I'll do Jungfraujoch, Piz Gloria, boat ride to Thun, day trip to Grindelwald, and a fair amount of hiking and exploring. Exactly what I will do is really dependent on the weather , so its hard to really tell what is the best pass option. I do like passes that give full coverage so you don't have to stand in alot of lines to buy tickets each time you want to travel, or change your mind about destination (weather). I'd like to hear any experiences pro or con with these two passes.
One obvious advantage to the Swiss Pass is that it covers the entire country. So if you encountered bad weather in the BO, you can use a Swiss Pass take a rainy day trip someplace outside the region like Bern, or Luzern.
Neither pass will give you full coverage on the Jungfraujoch or the Schilthorn. Given that much of your travel will be outside the Berner Oberland, you are, as Michael suggests, much better off with some kind of Swiss or Flex Pass. If you are traveling with someone there is a 2-for-1 special on Swiss passes for the month of May.