My mum has been living in Switzerland since the early 90s, so I do have a little insight.
Yes, it really is that expensive, especially around the major cities like Bern, Geneva and Zurich. OTOH in a lot of cases, the pay makes up for it as the salaries tend to be pretty high by European standards. Some of this can be offset by shopping abroad if you're in the right location - my mum does a lot of her monthly shopping in Austria, and shopping in Germany or France can also make a big difference if you're close enough to the border.
Yes, the place really looks like the picture postcards, only cleaner.
If you think that the cost of living is expensive, wait until you get a speeding ticket. Hint: don't speed, it's really bad for your wallet. They do have spectacular roads though.
If you can swing it financially I think it would be worth doing. I'd get a better idea of the location though - one thing that people don't appreciate is that Switzerland basically is made up of bits from about three nation states and each of the areas (ie the German, French or Italian) part has its own underlying vibe. It's still all very much Swiss, just different.
Most of the people in the large cities will speak some English. If you do speak some German it might help, although Swiss German is ... special. Think of it as a dialect like Scottish "English" is to British English.
Like everywhere in Europe, foreigners are mostly welcome when they're part of the professional class, but in general the Swiss are pretty welcoming, especially for a country that turned its mountains into a Swiss (err) cheese fortress . Not to mention that every male citizen of military age really has an assault rifle in their closet.
Mind you, even if you're integrated like my mum is, you'll never really be one of "them", but 99% of the time it doesn't matter.