I upgraded to Yosemite yesterday. It is a complete disaster and will not allow me to restore from Time Machine.
I've had pretty much the same problem. I tried to restore from Time Machine, and, at one point, I was told my computer was
- Transferring your Application folder ...
- About 53 hours and [so many] minutes remaining
Fortunately I had two separate, reasonably up-to-date clones of my 10.9.5 system, one on the internal hard drive and one on an external drive. I am running the internal clone now. I have installed 10.10 on my internal, 250 GB solid state drive, with no additional applications. I'll install applications there one at a time. It will a long process, and I've got other things to do.