How to see which file iTunes Match is processing
For those willing to troubleshoot problems in Itunes Match here it is step by step
Lauch "Activity Monitor"
Now search for the Itunes process
Now choose Inspector
A dialog is displayed, choose Files and Open Ports
Scroll down until you see a MP3 or AAC file...
Leave this dialog open, and you see what Itunes Match is processing and the progress.🙂
Each music file will take a few seconds to process