Time Machine transfer to my new iMac

I bought a new 27" iMac. I want it to appear (files, settings, password memory, etc.) exactly as my former iMac. When starting up my new iMac I selected the option to transfer everything from my external Time Machine back-up disk to my new iMac. I selected a date from about a month ago and started the process. There is less than one terabyte of data stored on the external back up disk. It has been working nearly 15 hours so far and it is still going. Does this sound right? I did not think it would take this long to grab a Time Machine "image" from a recent date and copy it over to my new iMac.