We had our passes sent by SBB after purchasing but it does sometimes take a few days. We printed them, took them with us, and it was so easy to just hop on transportation and not have to worry. We never had a single issue and the SBB ticket checkers we're all lovely. We probably would have saved 100-200 ish CAD$ if we bought tickets separately, but to be able to have the flexibility of missing a train or hopping off when we wanted to at a different station was worth the extra cost to us.

Used this to board a ferry from the transport museum to the Lucerne train station and a bus ride. Most of the train travel was covered by Eurrail. This works with the glacier express too but we tried to book a little too late so there were no reservations. Yet used regular trains running the same route for that visual experience.

It was very worthwhile to get the pass if one intends to for example, take the Bernina Express train, and a bunch of other trains and buses etc. You can calculate if it is worthwhile depending on your plans but it also makes it easy when tickets are checked to have the pass with the QR code...turns out one does not need to show one's passport- just the code. Don't forget to get seat reservations for the fancy trains...follow the rules, you will enjoy Switzerland :))