While migrating my MCMS 2002 database to MOSS 2007 I experienced a hang situation in the export step. Even after a couple of hours no progress was visible. No CPU was used by any related process and no filesystem activities was visible.
Finally I received a note from the product team that this is a known bug in MOSS 2007 beta two which is fixed in some later builds. The MCMS 2002 database needs to be hosted on a SQL 2000 server in order to let the export step work correct. The MOSS 2007 databases on the other hand can savely be used on SQL 2005.