I would think, by the usual criteria, Milan would not rate high for most of us. I was there once overnight on my way somewhere else and thought it quite dreary. I've never been to Lake Como (just to Garda) but would choose it over Milan unless there's something in particular for you there.

If you travel by train, Lake Maggiore would be between Milan and Interlaken. Lake Como is off side.

I'd pick somewhere on Lake Como (or Lake Maggiore) over Milan, unless you want some big city time in your itinerary. Your two choices are totally different experiences. You might look for some trip reports here (marked with the yellow book - you can search in the box above) and see what people's experiences in each have been.

I would choose Bellagio on Lake Como, then travel by train to Tirano and catch the Bernina Express to Chur. Next day take the train to Interlaken.

gkumar--

Depends on your interests. Milano does have some things worth seeing: The Duomo and surrounding areas, The Last Supper, San Ambrogiano, Brera Art Gallery, AC Milan.

But Milano reminds me most of Chicago, ILL--it is unlike any other Italian city and many people don't like it that much, as you can see above.

And three days around Lake Como would seem to me to be about two days too many, unless you were a hiker. scatcat's idea of breaking the Como expedition up is a good one if you want to head north instead of seeing Milano, or you could spend a day or two in Milano then head north.