Is it possible to use Nerve Pinch/Mind over Matter to target the same character I'm returning to hand, i.e. basically turning them into 'Swift Escape'? :ermm:

Yes. Both effects have costs of removing the character from the field in some fashion. The target is legal when the effect is fisrt played. At the time of resolution, the target is illegal, so the effect is negated, but costs are not refunded.

This doesn't change the answer, but, to be precise, returning a character to hand is not actually a cost for Mind Over Matter. Returning a character you control to owner's hand is actually part of the effect, and so will not happen until the effect's resolution; you can still return your targeted character to hand as a psuedo-Swift Escape, however, so all is peachy.

Whoops. You're right. Would help to read the card. :)