@blackyps In terms of the switch option, I'd expect it to be relevant if at least 8 people in the queue hadn't checked the option to restrict games they join to those within a smaller rating range, so it'd be limited in effect, but still relevant (whether or not it'd be enough of an impact to justify the additional time to create I don't know though). If only 7 people had chosen 'unbalanced game > no game' then it'd have no impact (since as you say the alternative would mean forcing someone who would rather have no game to play).
In terms of UI improvements regarding the wait, one option could be an 'average wait time' figure, although quite how you would come up with it I dont know. E.g. if it's possible (and not lots of extra work) you'd track the average time each person that joined the last 5 games had to wait before the game was formed, and then present that as the average figure (with an average of more than a certain amount, say 10m, just displayed as '10m+' (to avoid discouraging people too much if no games have formed for a long time due to it being an off-peak time). An alternative to coming up with the average wait time could be to track the average time to form a game based on the number of players in the queue (and potentially the rating range of those players) in aggregate (e.g. over a month) and use this to come up with a formula to approximate the number.
Another UI improvement could be to highlight the rating range currently being considered for you to be matched into a game, since I understand this increases with each queue cycle where you aren't matched (although I dont know if it is quite that simple). This could also be used as an alternative to a 'checkbox' selection approach, in that it would allow people to leave the queue and rejoin it to reset the rating range being considered for them to be matched into a game (thus achieving a similar effect to the 'checkbox' option without any extra coding being required). It'd also help newer players since they might think 'ah there are 8 players in the queue but I have a rating range so those other players can't be in a similar enough range to me, and my rating range has now increased so if I hang around a few more minutes maybe I'll get a game'.
However I wouldn't favour actually displaying the rating ranges of the other people in the queue since this risks disincentivising people from joining or staying in the queue if they see that all the people in the queue are a different range from them (as it is, I find if a few people join the queue there might quickly be an influx of more people who think the chances of a game have increased, which then becomes a self fulfilling prophecy)