CFMX 7.0.2 installation

We have been working on Coldfusion MX 7.X migration, I took the latest version of .exe file from the macromedia website and installed. Installation went well, but we are having some hardtime in migrating the current settings from Coldfusion MX6.X. Please find the error message while migrating the settings.Appreciated any help

ERROR Message
The web site you are accessing has experienced an unexpected error.
Please contact the website administrator.

The following information is meant for the website developer for debugging purposes.

Error Occurred While Processing Request
The request has exceeded the allowable time limit Tag: cfoutput


The error occurred in wizard.cfm: line 232
Called from wizard.cfm: line 229
Called from C: line -1
Called from wizard.cfm: line 141
Called from wizard.cfm: line 1
Called from index.cfm: line 48
Called from Application.cfm: line 199

-1 : Unable to display error's location in a CFML template.



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Browser Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.0; .NET CLR 1.1.4322; .NET CLR 2.0.50727)
Remote Address 127.0.0.1
Referrer
Date/Time 17-Aug-06 09:37 AM

Stack Trace (click to expand)