How long did you wait?
My initial setup took long time too. I learned to be patient with LMCE since then. Just let it be for a while, walk away for few hours (i did it overnight but I am sure its much shorter than that).
Also remember, system boots to VGA. If your set up different than VGA, follow wiki for holding down a key which I forget now. If you get a kernal panic at the end then, it's a different matter. This is just my $0.02