Probably a little more than that, perhaps a half hour or so. But yes, it's not bad.
In Basel itself , someone's already mentioned the Teufelhof, and I'd also recommend the Three Kings http://www.lestroisrois.com/
assuming price is no object. Spillmans http://www.restaurant-spillmann.ch
is also very good, and with a lovely position and view on the river.
There are many others, of course, so if the OP's looking for more of a budget place then I'll think again.