Q: Just got an iMac. I am trying to use Migration Assistant. The Mac side seems to be doing it's job, but my PC just keeps "Waiting for the Mac to connect." For over an hour.

Probably a PC issue, you can try calling AppleCare, you are covered for 90 days from the date of purchase and can find the phone number in the owners manual. Also please look over:

http://drtyhnds.blogspot.com/2011/08/how-to-use-migration-assistant-from-pc.html

and

http://pondini.org/OSX/SetupLion.html

Thomas,

It would also be extremely helpful to those trying to help you if you complted your Profile so we at least know what iMac and version of OS X is installed. Click Your Stuff in the upper right then click Profile and complete the necessary fields including what part of the planet you're located.

In addition, see > Switch 101: Migrate your Windows files or system to your Mac which implies that you might need > OS X Lion: About Windows Migration Assistant for your PC inorder to fully Migrate to 10.7.