Just went through the Migration Assistant Routine transferring from a late 2012 MacBook Pro to a iMac 5k. Ran into the same 1 minute finishing --- but hours pass by without finishing issue. So frustrating for a first time experience. I'll save the editorial, and just say, I believe the guys at Apple should take hints from this forum & get it right.
Cutting to the chase, here is what finally worked for me -- and it was less than 2hrs w/ 500Gb of data (and all apps) transferred from the source MBPro w/ SSD hard drives. These instructions refer to modern Mac's with Thunderbolt connections. You could adapt these instructions to work with older macs (firewire, etc.) -- your mileage will vary. I am recommending 3rd party software here, and I can only speak from my experience, which I based on the reviews for DiskWarrior -- which are stellar. I seriously recommend backing up your ***Source Mac sufficiently before attempting to use DiskWarrior. In my case I have sufficient backups... so on I went.
Tools:
I took Mark's advise and bought a copy of DiskWarrior. $100-ish. Glad I did. I then went a bought an official Mac Thunderbolt cable $39 for 2 meter cable.
Those are the additional tools you need for a quick migration.
Make certain there are several Gb of room on the source (original) Mac. As you'll be rewriting the directory structure + who knows what, back to the drive.
Next I placed the ***Source Mac into Target Disk Mode. "Target Disk mode"-- weird name, but follow along. Instructions on how to do this here: OS X Mountain Lion: Transfer files between two computers using target disk mode
On the screen of your ***Source Mac, it will have a Thunderbolt Icon on it
Note again: What we are trying to do first is not transfer anything, but to run DiskWarrior on the target Mac.
Connect the Thunderbolt cable from the Source Mac to the Target Mac. *** Thunderbolt is a 10+Gigabit connection. Way faster then Gigabit ethernet, or wireless of any flavor. Note: Go for the best -- get a Thunderbolt cable -- at 10+Gigabit connection you have the fastest connection that you can connect to your Mac.
On the ***New Mac, you'll need to follow the instructions for installing DiskWarrior. It talks about using a DVD. I don't think it is necessary. Using Target Disk mode, you won't need the DVD. Just install per instructions onto your ***NEW Mac:
Install DiskWarrior in the Applications/Utilities folder of your NEW Mac, and run it from there. It will ask for license & registration, no big deal.
Then run DiskWarrior from your ***New Mac.
You'll need to follow the instructions for DiskWarrior. You should see listed in the drive list the HD for your ***Source Mac. Find this first, as it is critical.
Use the instructions (and a little faith) from DiskWarrior to do a scan on the ***Source Mac directory. Even at 2 years old, my source Mac had a number of issues that had to be fixed with the source directory. For me DiskWarrior found all my files, but desperately suggested I replace the entire directory structure. And I concurred with their analysis -- after reading the forums here, ****the directory structure errors are what is chiefly making the Migration Assistant transfer hang up****. So -again using their one click instructions- I replaced the directory on the Source Mac. It took about 2-3 minutes, and done.
From there, I was done w/ DiskWarrior. I exited cleanly, and unmouned the ***Source Mac from the ***New Mac.
Then rebooted the ***Source Mac to insure that it still booted correctly, and that my apps, files and etc. worked properly. Which it did.
Now I was ready to return to the Migration Assistant. This time repeating the process to again place the ***Source Mac in Target Disk Mode
On the ***New Mac, I erased the drive and re-installed OSX (do this if you wish to start with a stock configuration. I did this to insure I was starting from a clean slate -- there are many YouTube videos documenting the process.)
I reran through the first boot sequence that begins once a new OSX installation is first run. If you are skipping that part, you could run Migration Assistant directly.
In any case, I then told OSX that I was restoring from a TimeMachine or other drive. For a source, the Hard Drive from my ***Source Mac appears -- which is great, as this is exactly what I want to do. And I let Migration Assistant take it from there.
The file migration process over Thunderbolt was more than 2x faster than using an ethernet cable from the prior failed attempt.
And this time, it worked the right way. It actually finished in the general time estimate that it said it would. No 'waiting 1 minute to finish' nonsense.
There was a tiny error towards the end, saying it couldn't transfer something... but it was a non issue. I figure it was a Mavericks/Yosemite thing.
I rebooted the ***New Mac, and it worked. Files were there, apps were there. Ready to resume.
Thank you DiskWarrior and Thunderbolt. No regrets for these additional purchases. Time saved & I can resume with my day.
Thank you Mark.
-MB