I would be remise if I didn't post my solution to this issue which I toiled with for over 4 days. I too got this got this circle with a line through it after the first install, the second install after a restore from my Time Machine, the third install after I installed clean then tried to migrate my data from time capsule, and finally my fourth install after installing from a USB follow by a migration. Each of this took about 14 hours a piece as I have close to 1TB of data (gotta get rid of some stuff).
Finally I was convinced I could boot in SAFE mode, but even that didn't work but I was able to boot in Verbose mode(command-V). While watching it boot up I noticed an error that lead me to my final solution. I can't remember it exactly but it said something about PGPwde whole drive encryption. After racking my brain I finally remember I had installed PGP tools or something like that. I booted into recovery mode (command-R). Pulled up the console and followed these steps to remove PGP manually.
http://kb.mit.edu/confluence/display/istcontrib/Manually+Removing+PGP+Desktop+fr om+Mac+OS+X
Keep in mind I had to find my data under the Volumes directory of the root drive. So instead of /Library it was /Volumes/<name of your hard drive>/Library. If the drive is not there you might have to mount it, but there are plenty of references on the internet on how to do this.
This did the trick and after a restart Yosemite came right up. Not sure if this is exactly the fix for everyone, but if you book in Verbose mode(Command-V) I would bet you will see whatever culprit is causing the issue.
Hope someone finds this useful.