Restoring "iPhone" from backup" buy obviously stuck

I am upgrading my iPhone. I backed up my old iPhone to my Imac. Now I am restoring the backup to my new iPhone. My old phone was 32 Gig. My new phone is 128 gig. I click restore on the mac, the mac says "restoring "iPhone" from backup..." and shows a completed grey line below this message. The phone shows "Hello" screen (animated). I have restarted the mac and phone several times. I am using the latest OSs. I am using original USB/Lightning cables connected directly to my iMac. I performed a Hard Reset to the new iPhone when It was plugged Into the computer. I checked the support articles, they do not appear to address this scenario. Any advice?

Sequence of events:

1. click restore backup to this device
2. Erasing iPhone seems to work, progress bar on phone animates, then Apple logo appears and system loads with animated progress bar
3. iMac says "Loading..." and shows animated progress ring
4. iMac says restoring iPhone from backup with left to right progress bar
5. iPhone produces boing sound, then shows animated hello
6. iMac says "restoring "iPhone" from backup...", progress bar is completed (no animation)
7. Both iPhone and iMac stay this way for 1 hour.. no change....