My initial goal was to increase speeds (meaning downloading faster and quicker webpage browsing) on y network. Now I realize that by adding a gigabit switch this will NOT in fact increase those speeds as I am limited by my router being 10/100.
No, it is currently limited by your internet speed of 35Mbps. This is why just an inexpensive gigabit switch is needed, and not a whole new gigabit router, in order to achieve your originally stated goal of maximum wired performance over your home network.
So in theory with my NAS having gigabit capabilities anything I connect to the NAS could achieve gigabit transfer rates (assuming the other devices attached also were gigabit capable)??
Yes, the switch still functions as a gigabit switch, the router being connected at 100Mbps doesn't change or limit that. So it can transfer at gigabit speeds from one connected gigabit device to another gigabit device.
If the NAS is the only device I have connected to the gigabit ethernet switch (that is actually gigabit capable)...what is the point of it? I will be connecting the NAS (gigabit), xbox (10/100) and panasonic viera hdtv (10/100) none of which are gigabit capable devices.
Because a network connects one device to multiple devices simultaneously. You said you want the NAS to upload torrents, do automated backups, video stream to your home theater and other functions. Therefore, the total throughput to or from the NAS may easily exceed 100Mbps.