I should mention that this is on a win based system
Even running a i7 950 / SSD based system - this TAKES SOME TIME! ( big file )
So it's all about my impatience - and as You understand - case is solved by ... ahem myself .
Good work, but would you share the "cure?" It appears that you have an MP4 Audio-only file, did you just have to wait for it to be Conforming (creation of the 32-bit, floating-point CFA and PEK files) to complete? You might help someone else later on.
Good luck, and thanks,