iMac migration
I'm migration from one iMac to a new one, the old one says "looking for applications and documents to transfer" the new Mac doesn't say anything? It's been like this for over 40 min. Is it working? no status bar, no hrs estimate?
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It may take some time, e.g. a few hours, especially if your older iMac has an HDD. Let it do the transfer overnight; that's what I do and make sure you have a strong Wi-Fi connection.
If you want to speed up the transfer, you could connect the two iMac with an Ethernet cable and disable Wi-Fi.